Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has pinned Ghana’s economic problems to domestic revenue generation and prudent management.
He said managing Ghana’s economy is not a rocket science and insist domestic revenue generation as the major problem for the country.
According to the economic researcher, Ghana has a lot of domestic resources for development but the managers of the economy do not utilize them prudently to grow the economy.
He has therefore questioned the difficulty in fulfilling such simple mandate as economic managers.
“Is our problem not about raising enough domestic resources (which we have plenty of) and spending them prudently (which we don’t do) to grow the economy and distribute the benefits more equitably through targeted social intervention programmes?
“What is rocket science about this?” He asked
“Our economic managers better get on with the business of solving our problems or else quit.
He said the International Monetary Fund (IMF) is not the panacea to Ghana’s problems and Ghana’s reliance on the fund is not the solution.
“The IMF cannot solve our problems for us. It’s even a national disgrace to let them do so? What’s it that they know that we don’t?” Dr Kwakye tweeted.
Ghana is seeking a programme with the International Monetary Fund(IMF) for support.
The President, Nana Addo Dankwa Akufo-Addo says negotiations are going on well despite claims by some quarters that it is not.
This comes on the back of major economic hit due to global economic challenges.
The development has brought untold hardship on Ghana with rising cost of living becoming unbearable.