Prof. Hanke attributes Ghana's low ranking on IMD Competitiveness to economic mismanagement

Steve Hanke, a Professor of Applied Economics at Johns Hopkins University, has attributed Ghana's low ranking in the recently released 2024 IMD World Competitiveness Ranking to "a masterclass of economic mismanagement" by President Akufo-Addo's administration.

In a recent release by the International Institute for Management Development (IMD), Ghana's domestic economy was ranked at the bottom, placing 67th out of 67 countries evaluated in the 2024 World Competitiveness Ranking. This position has sparked significant commentary and criticism from various economic experts.

In a post shared on X formerly Twitter, Steve Hanke wrote, “IMD's recently released World Competitiveness Ranking places Ghana's domestic economy dead last, 67th out of 67 countries reviewed. Pres. Akufo-Addo's administration is described as a masterclass of economic mismanagement.”

The IMD's competitiveness ranking is a respected barometer of economic performance, assessing factors such as government efficiency, business efficiency, and infrastructure.

Ghana ranked 65th in its overall rankings, but a breakdown showed that its Domestic Economy ranked 67th in international Trade; 66th in international Investment; 63rd in employment; 44th in prices; 56th.

The government has yet to respond to the ranking or the comments made by Professor Hanke.

This development, however, is likely to intensify the ongoing discussions about economic policies and strategies in Ghana.

#SaveGhanaNow🇬🇭:

@IMD_Bschool's recently released World Competitiveness Ranking places Ghana's domestic economy DEAD LAST – 67th out of 67 countries reviewed.

Pres. Akufo-Addo = A MASTERCLASS OF ECONOMIC MISMANAGEMENT. pic.twitter.com/iAVMTKwTKD

— Steve Hanke (@steve_hanke) July 3, 2024