It’s a miserable mess – Think Progress Ghana charges government to find quick solutions to economic woes

Think Progress Ghana, a not-for-profit and policy Think Tank has charged the government to as a matter of urgency tackle the widespread corruption that has rocked it and find solutions to the economic challenges plaguing the country.

In a press statement issued on Wednesday, January 24, 2024, the think tank presented an overview of the various facets of the Ghanaian economy.

In the area of energy and power, Think Progress Ghana highlighted the Akosombo Dam spillage as a major occurrence that impacted the sector and communities negatively. It therefore demanded a permanent and immediate solution to the problem.

It also urged the government to quickly settle the power sector debt to ensure that Ghanaians enjoy constant supply of electricity.

“There would be no meaningful industrialization without having an adequate and reliable energy supply. Hence, it is very crucial for the Government to pay full attention to our energy challenges and find permanent solutions. We urge the Government to begin a fruitful dialogue with the Independent Power Generators- Ghana, and start paying the US$2.4 billion it owes them.”.

On the economy, Think Progress Ghana described the prevailing economic situation as a ‘miserable mess’ that needs measures that will expeditiously ensure a turnaround in fortunes.

It warned that the country risks an implosion if government does not implement policies that will relieve Ghanaians of the enormous burden they are dealing with.

“Ghana is in a miserable economic mess - excessive borrowing, over employment in the public sector, wastage of public funds, profligate spending by the executive, massive corruption; imported inflation around 54% as Cedi continues to fall against international currencies; increase in fuel prices and the multiplier effect on prices of goods rising over 350% since 2022.

”Unfortunately, there is no evidence of turning the corner soon. Think Progress Ghana believes we are at the precipice of social implosion if the Government does not show practical and verifiable signs of dealing with the economic problems soon, and if campaign activities/politicking in an election year are excessive and carelessly pursued”.

In its concluding remarks, the think tank made some far-reaching recommendations that it believes if implemented will help spur the growth of the Ghanaian economy.

“Think Progress Ghana calls on the government to curb the self-serving, corrupt, and ostensibly neo-liberal policies that have led us into the current harsh economic situation in Ghana.

“We call on the legislature to faithfully discharge their role as a watchdog in this election year and for legislators (MPs) to be always mindful of the hardships of the electorates they serve when they decide and vote in parliament.”