It will be difficult to get the economy back on track - Kwame Pianim

Renowned Economist, Kwame Pianim, has averred that it will be difficult for the government to bring the economy back on track from its wobbling state if it does not change some of its ways.

According to him, government needs to appreciate and value the money it gets for developmental purposes.

He stressed that until government gets rid of incompetent officials and desists from corruption-related activities, the country will be in a standstill.

“It is going to be very difficult to get the economy back if we don’t change drastically how we develop. We have to cut our coat according to our cloth and ensure that there is value for all the money we get," he said.

"Let’s get rid of incompetence and corruption because those two are important to the management of the economy. Why was Ken Ofori-Atta able to borrow so recklessly? Now that we are in the gutter, we know what debt sustainability is”, Kwame Pianim stated.

The economist made this known in an interview with Citi Business News on Wednesday, July 12, 2023.

Meanwhile, as part of efforts to revive the 'dying' economy, government run to the International Monetary Fund (IMF) for a US$3billion financial bailout programme.

The IMF programme aims at restoring the country's macroeconomic stability and safeguarding its debt sustainability.

ESA/NOQ

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