According to him, Ghana’s current economic crisis is heavily rooted in the government’s incessant quest to borrow, coupled with reckless spending and a lack of effective revenue generation.

“We have become debt junkies,” he bemoaned on Joynews Newsfile.

In a later post shared on his Facebook page, Dr. Acheampong alluded, contrary to the government’s position that, Ghana’s economic challenges preceded pre-COVID-19 and the Russia-Ukraine war.

“Anyone who cares to look deeply at the data will come to the conclusion that the challenges with the Ghanaian economy cannot be solely attributed to the Russian-Ukraine war or COVID. The propaganda is too much. We face a looming debt and balance or payments crisis and need an honest conversation as a country on how to get out of this mess, with or without the IMF,” he wrote.

Ghana’s decision to seek a 17th IMF bailout has received various reactions amidst heavy criticism.