An Economist, Kwame Pianim, has reiterated Ghana’s reckless borrowing that has run the economy into a ditch.
According to him, after borrowing and spending without caution, the government is now talking about debt sustainability, something that should have been pursued before now.
He noted that it will be difficult for the country to come out of the economic crisis anytime soon if drastic
“It is going to be very difficult to get the economy back if we don’t change drastically how we develop. We have to cut our coats according to our cloth and ensure that there is value for all the money we get.
"Let’s get rid of incompetence and corruption because those two are important to the management of the economy. Why was Ken Ofori-Atta able to borrow so recklessly? Now that we are in the gutter, we know what debt sustainability is,” he was quoted by citinewsroom.com.
Kwame Pianim further added that managing the economy is not a difficult job if corruption was not involved. He therefore asked the government to block avenues where corruption thrives in the country.
“All the procurement agencies, value for money audit, we scrap all of them. Because they provide avenues for people to just take monies and we need to get it off, incompetence and corruption, those two are important.
"The management of the economy is not too difficult if there’s no corruption,” Kwame Pianim opined.
Kwame Pianim is a renowned economist
