Fix Ghana’s Economic Crisis Now- Dr Worlanyo tells AkufoAddo/Bawumia

Rev. Dr Samuel Worlanyo Mensah, an Economist and Independent Presidential candidate for election 2024, has called President Akufo-Addo and his Vice Dr Mohamudu Bawumia to evolve a means of arresting the slide in the country’s economy as the generality of Ghanaians are suffering.

Reiterating his position on the need to restructure the economy, the Independent Presidential candidate who is also the spokesperson for the Grand Coalition of Ghana, amalgamated political parties and independent persons said streamlining the economy to benefit home-grown industries remained the only solution to the country’s challenges.

Dr Worlanyo Mensah made the call during an exclusive interview with EXPRESSNEWSGHANA, on Thursday, May 16, 2024 in Accra.

He lamented that the epilepsy state of the economy since 2020, should be the concern of the President and his appointees and not how to retain power in the December 7, 2024, general elections.

“President Akufo-Addo and his Vice, Dr Bawumia must fix the issues of downgrading economy, the depreciating of our currency, the unemployment, inflation and infrastructural decadence that have pervaded every part of this country without actions to check the junk state of our economy,” Dr Worlanyo said.

Dr Worlanyo also called for the implementation of measures that will ameliorate the sufferings of the masses as the New Patriotic Party (NPP) administration has dissipated most of its energy on policies that unfortunately, seems to be targeted at only enriching themselves at the expenses of Ghanaians wellbeing.

He said, despite abundant of economic experts in the country, President Akufo-Addo had failed to surround himself with economic and financial specialists that could make the economy grow, adding that, the financial sector cleans up, the domestic debt restructuring were poorly done on political interest which undoubtedly pushed Ghana to the current unsustainable state of economy.

While urging Ghanaian electorates to think twice on December 7, and considering whom to vote for, the Independent Presidential hopeful noted that the NPP government and their predecessor, the National Democratic Congress (NDC) have the penchant for borrowing and soliciting supports from the International Monetary Fund (IMF), adding that the borrowings had not shown commensurate investment or infrastructural provision under the duopoly of the two parties.

Dr. Worlanyo stated, “It is not anticipated that the President will possess financial expertise, as he did not profess to be one as a lawyer. However, it is expected that his Vice, Dr. Bawumia, will utilize his economic expertise to propel the country forward.”

“There cannot be a better day under this regime, and this is not about being antagonistic. Bawumia is part of this indebted regime. What he understands about governance is to borrow and not to generate. Now Bawumia is going round asking Ghanaians to vote for him. I can say that Bawumia regime will not be different from the one that Akufo-Addo is overseeing now. The gloomy signs are there for Ghanaians to see,” he added.

He said Akufo-Addo and Bawumia collectively incurred huge debts for the state and how to block that would not be possible under the same regime because some people are smiling to the bank on the depletion of our foreign reserves in debt servicing.

He said, until we have a change of government and certainly with Independent minded people like him and his grand coalition team to ensure all these economic raiders are chased out, the problems Ghana currently faced will never go.

In his considered view, Ghana economy could only grow strong when the government provides enabling environment for local industries, agriculture and the pharmaceutical sectors as well as supporting home-grown businesses and traders to give meaning to the Africa Continental Free Trade with secretariat in Ghana.

Dr Worlanyo also condemned undemocratic utterance by political leaders, which he believed are contributing factors that scared investors from coming and as well forcing others in the country to leave, stressing that, apart from the galloping inflation, reckless comments and pertinent policies could not create enable environment for investors.