Economist Kwame Pianim is troubled by the trends of government activities in the wake of an economic crisis.
Giving power to foreign experts to control and dictate to government what to do and the resort to incessant borrowing from the International Monetary Fund (IMF) is an indication of the incompetence of the current administration, according to Mr Pianim.
He says the country is being recolonised as a result.
“We have a Finance Minister who borrowed and Parliament that supported him to borrow. We have now somebody from the US treasury sitting in the Ministry of Finance to hold Ken Ofori-Atta’s hand. Ken told me once – we went to school with these same white boys – we are just as good as them.
“Now he has somebody sitting there, holding his hand, giving him tutorials to in what? And we have somebody being paid by a Swiss fund sitting in the Bank of Ghana. Our governor was out giving advice to other countries. And we are being recolonised,” he said.
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Speaking on JoyNews’ Newsfile on Saturday, April 8, the economist expressed disappointment at leaders of the country in that he expected a better performance as the country boasts 66 years of being independent.
According to him, government projects have usually cost double the price indicated because of their incompetence and “corruption.”
As a result, the expert does not want any country to forgive Ghana of its debt but rather structure it in a way that compels it to pay. This, he said would deter the government from engaging in reckless borrowing.
He has recommended that government should focus on creating home-grown solutions to solve current economic issues rather than finding itself at the feet of the IMF during an economic crisis.
Speaking on the recent three tax bills approved by Parliament, Mr Pianim expressed indifference to the purpose for which they were approved.
According to him, the tax bills have nothing to do with growth and fiscal sustainability.
“This levy has nothing to do with growth, it has nothing to do with fiscal sustainability. It’s a lie,” he said.
The expert has therefore advised the government to be transparent with the people of Ghana.
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