Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, says there is an urgent need to change members of the Economic Management Team (EMT).
According to him, a new team of experts and professionals should be assembled to manage the economy given the country’s difficulties.
In a Tweet, Dr Kwakye said: “Reconstituting the Economic Management Team and bringing in experts/professionals will be one of the needed confidence-building measures.”
Reconstituting the Economic Management Team and bringing in experts/professionals will be one of the needed confidence-building measures.
— J. K. Kwakye (@JohnKwabenaKwa1) October 28, 2022
Meanwhile, President Akufo-Addo is expected to address the nation on Sunday, October 30, 2022, at 8:00 pm on matters related to the economy.
For the past few months, the country’s economic woes have made most citizens lose interest in the incumbent government.
The hikes in fuel prices, the high inflation rate, and the depreciation of the cedi, which has caused investors to leave the country, are some pending challenges the country faces.
A section of Ghanaians has been criticising the government for failing to “arrest the dollar” as the Vice President, Dr Mahamudu Bawumia, promised some time back.
Some forex traders were exchanging one US dollar for GH₵15.00 as of Monday, October 24, but the Forex Bureau Association of Ghana reported some gains on Wednesday.
The Finance Minister and some appointees are on the verge of concluding an International Monetary Fund (IMF) support to revive the economy.
President Akufo-Addo has met with a series of stakeholders in the country to address the situation. He will use his address to update Ghanaians on measures being implemented to curb the economic nosedive.