Senior Research Fellow at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Charles Ackah has advised Ghanaians not to be “unnecessarily alarmed” over predicted economic hardship in 2023.
According to him, the country has dealt with economic difficulties before, therefore, measures that will be implemented will determine whether the difficulties are resolved or exacerbated.
“When we have crisis like that, it gives us the opportunity to rethink and to do things differently. So, I don’t want us to be unnecessarily alarmed, because we have come this way before,” he said on JoyNews’ AM Show on Thursday.
Prof. Ackah added that the right thing for the government to do is to identify the cause of the crisis and proffer solutions, which in his opinion is “how to fix the economic dynamics to pay the debt” accumulated by the government.
He expressed his disapproval of government’s tendency to turn to the IMF when the country is in a state of economic crisis.
Prof. Ackah said the aim of the IMF is to generate “higher returns in the shortest possible time,” but not to help develop the country, therefore, it is not the best course of action, that the government has turned to the IMF amidst the country’s current situation.
He called for policies to limit the Ministry of Finance from borrowing from the IMF, unless it is critical.
Latest Stories
-
Today’s front pages: Tuesday, November 5, 2024
9 mins -
Galamsey: Investigation into attack on Joy News’ Erastus Asare and colleagues already growing cold
40 mins -
Mahama promises construction of stadia in all 16 regions if elected
57 mins -
Dampare has transformed Police training school – Bawumia
1 hour -
America braced as two stark visions collide on election day
1 hour -
NAPO urges Ghanaians to support NPP’s vision for national development
1 hour -
About 95% of PWDs in Obuasi have source of livelihood – MCE
1 hour -
Immigration Service intercepts 54 gallons of fuel
1 hour -
Election 2024: Roman Fada selected as flagbearer for Ghana Freedom Party
2 hours -
Bawumia to launch Ghana’s credit scoring system on Nov. 7
2 hours -
Alan to combat galamsey with strategic youth-centred business model
2 hours -
Agona Swedru chiefs commit to ending child marriage within their jurisdiction
2 hours -
Sunyani Traditional Council endorses Bawumia – NAPO government
2 hours -
Adutwum defends double track in Free SHS, citing research and positive outcomes
2 hours -
‘Prevent and condemn illegal pressure on Judiciary’ – AG to GBA
2 hours