Economist and Senior Lecturer at the University of Ghana Business School, Prof. Patrick Asuming has advised government to re-direct substantial amount of funds into critical sectors of the economy where foreign aid is likely to be cut off.
Speaking on Joynews he said, this has become critical as more foreign partners are likely to end donor support for African Countries including Ghana, especially in areas of health and agriculture.
Dr. Asuming was reacting to the decision by the United States Agency for International Development (USAID) to suspend its support for supply chain activities to three northern regions of the country.
“You cannot run a country where financing of critical things are dependent on other countries and donors. It is not like we don’t have the means, we have the resources”.
He pointed out that there is the need to identify wastages in the economy and redefine the methods used to pursue economic development.
“Anytime any of the political parties are in opposition they’re able to identify all the critical resources that are there to be mobilized, the amount of illicit financial flows out of this country is quite unbelievable”.
He stated that the mode of attracting investments must also be reassessed to eliminate corruption.
“Even the amount of money given out in the name of attracting foreign direct investments in the name of doing something must be checked”, he said.
The funds are there. Let’s put our money where our mouth is” he said.
The USAID last week announced a decision to cut supply of logistics to certain parts of Africa as a result of cut in budget from the US government.
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