'Posterity will judge Akufo-Addo favourably' - UG economist

Economist and Senior Research Fellow at the University of Ghana, Dr. George Domfe, has held that Ghana’s history can never be written in future without President Nana Addo Dankwa Akufo-Addo featuring prominently in it.

“Though I am not giving him any percentage about how he has performed, but I would say that President Akufo-Addo has done very well. Ghana’s history will be written with his name featuring very prominently in it. Posterity will judge him favorably”.

Dr. George Domfe made these remarks when he appeared on Atinka TV’s ‘The Agenda Show’ on Wednesday February 28, 2024.

He also mentioned that the management of the economy hasn’t been awful as suggested by some even in the face of the catastrophic recession ever faced in a century thanks to COVID-19 and the Russia-Ukraine war.

“Look at the pro-poor policies he has implemented especially the Free SHS program. It is the single most important policy ever to have been implemented by any government in Ghana’s history. Posterity will be good to him” Dr. Domfe stated.

On the depreciation of the Ghanaian currency, Dr. Domfe noted that capital flight is responsible for the development though it has witnessed some slight reduction.

“Foreign giants like MTN, Melcom, Shoprite, Stanchart and other big companies repatriate their monies into their home countries at the beginning of every year, and that results in the cedi depreciating because they send these monies in dollars” the UG economist explained.

He continued, “Akufo-Addo’s Ghana Beyond Aid is a blueprint that must be pursued. It has the panacea to end most of our challenges. But for the disruptions in the economy in 2020 to 2023 by COVID-19 and Russia/Ukraine conflict, Ghana would have succeeded with this idea.”

He also said that the One District, One Factory, if it is continued, will help reduce the pressures on the local currency as these factories will export to other countries and bring in more dollars.

“The journey of industrialization embarked upon by President Akufo-Addo is the best step to liberate the country from the cedi/dollar conundrum. 49% of rice eaten in Ghana is produced locally and this was not the case before 2017. This and other reasons have convinced me to conclude that President Akufo-Addo will be remembered for good reasons in the not-too-distant future” he stressed.

He also touched on the introduction of the Ghana Card as a means to build a robust credit system and other equally important services as the real game changer.

MA/NOQ

Watch the latest edition of BizHeadlines below:



Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel