Ghana Needs Rigorous Reflection To Turn The Corner- Kwame Pianim On Economic Recovery

A renowned economist, Kwame Pianim has indicated that Ghana is in a deep financial and economic crisis which requires deep reflection and thinking on the part of the managers of the economy to resolve.

Mr. Pianim described the current challenges as unprecedented because the country has never witnessed such problems before.

“Where we are now is difficulty, we have never been there before, we need to sit up now and, we are not on the road yet we haven’t turned the corner,” he said.

The NPP stalwart entreated the managers of the economy to learn from the past relative to the economic challenges to prevent what is happening today from recurring in the future.

He charged Finance Minister Ken Ofori-Atta to sit up and tackle the economic challenges.

On calls for the Bank of Ghana Governor and his deputies to resign, Mr. Pianim stated that the central bank is a respected institution but has made several mistakes leading to the problems it is saddled with currently.

“Officials of the bank should have held meetings with members of the Finance Committee of Parliament to explain to them the dire situation that the country found itself in and also made available to them the measures outlined to resolve the problems.

“If this meeting had been done, there would not have been this hullabaloo around the support that the bank gave to the government,” the economist stated.

He added, “They should have alerted the entire committee about the challenges and  that we are going to print money.”

He made the comment during the 3rd Business Ghana Economic Forum Agenda held on Wednesday, August 9.