Economy still deteriorated despite becoming an oil producing country - Catholic Bishops' President

The President of the Ghana Catholic Bishops’ Conference, Rev. Matthew Kwasi Gyamfi, has lamented the current state of Ghana’s economy despite its vast natural resources.

He argued that although Ghana commenced oil production in 2010, the country currently has nothing to show for it amid successive governments taking their turns to govern.

Speaking during the opening ceremony of the 2023 plenary assembly of the Ghana Catholic Bishops’ Conference in Sunyani, Rev. Gyamfi said successive governments have lagged behind in tapping these natural resources, leaving the country in deterioration, with corruption being rife.

“There have been no significant positive changes in the economy since we became an oil-producing country. What happened to the gold and other mineral resources? Why are most of our roads in such a deplorable state? Why do we keep going to the IMF? Why do we keep borrowing so much when we are a rich nation?” he is quoted by citinewsroom.com to have said.

He continued, “Both governments [NPP, NDC] keep borrowing, and we are now in a deep financial crisis. Why are we in this economic and financial quagmire? The massive uncontrolled corruption is suffocating the nation. It appears corruption is legalized. What should Ghanaians do since the existing form of democracy help only a few and leaves the majority behind? What about the impunity and arrogance of some politicians and their defence of corruption?”

He further questioned if Ghana’s constitution must undergo a review in order to curtail the situation which has seen the country persistently seeking financial assistance from foreigners, despite an array of natural resources.

“Should the constitution not be changed or bettered for it to work for all Ghanaians instead of for a few? Should the legal system not be re-equipped to uproot corruption? What about our Parliament where the interest of the people is sacrificed for personal and party interests? Why have we not implemented the findings of the Constitutional Review Committee?

“Can the governments explain to us why we are in this economic mess? What explanations can the two political parties give to Ghanaians for the unfavourable agreements we sign on our oil, minerals, power generation etc.? Countries that have these resources in abundance are rich. Why do we remain poor? Ghanaians no longer accept the old explanations that the Governments of Ghana have been giving,” Rev Gyamfi concluded.

MA/AE

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