Ghana's Economic Problems Have Been Misdiagnosed - Dr. Ayamba

Ghana's economic problems have been misdiagnosed, according to Dr. Ayamga Ayamga, who claims that the government is only attempting to dispel rumors by convincing the public that the country has secured an International Monetary Fund (IMF) programme.

According to him, the government is ignoring the real issues.

"They have incorrectly diagnosed the issue.

On Thursday, April 27, he stated on JoyNews' AM Show, "We have designed the program in such a way that we want people in the economy to believe we have a program and then change rumors and other things, without actually addressing economic issues."

The expert explained that the severity of the country's economic problems may necessitate IMF assistance in excess of $3 billion.

"You cannot simply get up and write a program requesting $3 billion to solve a $60 billion problem," he continued.

Ayamga has also emphasized that the nation requires the program to stabilize the economy.

According to the expert, the government must be more transparent and accountable in order to secure the contract.

However, he has expressed skepticism that the country will be able to secure the agreement in the current quarter, but he is optimistic about the next three months.

Professor Lord Mensah, a finance lecturer at the University of Ghana, said he would be pleased if the government secured the program in the fourth quarter instead.

This, he stated, would prevent the secured funds from being used for political purposes.