Renowned Economist, Kwame Pianim has stated that Ghana is in a severe crisis and that its survival is virtually impossible.
He asserts that no country has ever endured a challenge of this magnitude and survived.
Mr. Pianim said this during the Leadership Lecture Series on Wednesday, August 9, 2023.
“The crisis we are in now is difficult. Historically, there has never been any country that has gone this way that has survived. It doesn’t happen,” he said.
He was concerned that the country appears to be bankrupt.
He also lamented the high rate of inflation and the country’s indebtedness which has been left for future generations to pay.
Amid the economic woes, Mr. Pianim noted that the government had difficulty addressing the issues.
He criticized the current administration for tackling the issues “from the air” instead of solving them from the bottom to the top.
Suggesting ways to do this, he said the government should empower the local government agencies to “micro-monitor” the people.
“We have never been there before. We need to sit up now. We are not on the road yet. We haven’t turned the corner,” he said, in contrast to assertions by Finance Minister Ken Ofori-Atta during the mid-year budget review that Ghana had negotiated the curve of challenges and was now on the path to recovery.
Speaking on the Bank of Ghana’s staggering loss of GH¢60.8 billion within the 2022 fiscal year, Mr Pianim said the bank is making some avoidable mistakes.
He was of the view that the officials of the bank should have held meetings with members of the Finance Committee of Parliament to find available measures to resolve the problems.