Today in History: Your methods for economic recovery not working – Prof. Gatsi to Ofori-Atta

Dean of the University of Cape Coast Business School, Professor John Gatsi, on August 14, 2022, stated that the methods adopted by government to solve the economic crisis were not working

According to the economist, Ghana’s current economic woes were as a result of the handlers of the economy using the same unachievable strategies over time.

Prof. John Gatsi therefore advised government to open up to new ideas in order to salvage the economic crisis.

Read the full story originally published on August 14, 2022 by StarrFM.

The Dean of the University of Cape Coast Business School, Prof. John Gatsi has advised the government to open up to new ideas in order to salvage the economy from its present state.

According to the economist, Ghana’s current economic woes are a result of the handlers of the economy using the same unachievable strategies over time.

“It is the same old strategy that we are doing that has landed us in this problem. The same strategies that are not working when you hear from the Finance Minister it’s the same strategy.

“So I think that that is where we have gotten to. We should remember that Ghana is just one country with people with different persuasions and orientations,” Mr. Gatsi told Starr News.

He advised that this is the time the government must be humble enough to bring together the best brains and other ideas on board.

“Let us forget that in 2014 the NPP announced to its members that they shouldn’t participate in national consensus to revive the economy. Let us put away that kind of crying and pettiness and realize that the International community wants us to showcase that we have realized that we are in trouble. And in this crisis the solution is not in the hands of the President and his team alone,” the Economist advised.

Prof Gatsi also indicated that the Finance Ministry’s response to the S&P rating that it was disappointed in the rating is out of desperation.

“So those comments were out of desperation and the government has done what it could from January till date. The fact that S&P is not appreciating it is disheartening and it means that the strategies are not robust. They cannot deal with the situation so the policies are not credible enough to deal with the situation. The Finance Ministry and Ministers ought to understand.

“We are not saying that they have not made an effort, their effort is not enough. The effort is not appreciated by institutions that ought to align with the tracking. That is the issue here and that is what they are failing to identify. The moment they appreciate that they will open up and things will be different.”

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