…. To Monetary Challenges Of Ghana: Razak Kojo Opoku Writes
Can Prof. Kwesi Botchwey and his economic students explain to Ghanaians why these programmes of World Bank and IMF FAILED to transform the Ghanaian economy under PNDC/NDC:
1. Structural Adjustment Programme(SAP)
2. Economic Recovery Programme(ERP)
3. Programme of Actions to Mitigate the Social Costs of Adjustment (PAMSCAD)
4. $1 billion IMF loan to John Mahama to revive Ghana’s economy.
I would like to respectfully find out from Prof. Kwesi Botchwey how come NDC cheaply sold most of the Ghana’s government establishments and factories/industries set up by Dr. Kwame Nkrumah to members of the PNDC/NDC and other unpatriotic Ghanaians?
It comes as very surprising when Prof. Kwesi Botchwey as an economic teacher admits that IMF is not the solution to the economic challenges of Ghana due to his own failed past experiences with the IMF yet his students such as Isaac Adongo, Prof. Godfred Alufar Bokpin, Lord Mensah, Dr. Mark Assibey Yeboah, Cassiel Ato Forson and others think that IMF is the best alternative place for solving the economic challenges of Ghana. Is it the case that both teacher Botchwey and his students are confused on the subject matter?
Akufo-Addo’s government still stand by the argument that the only way for Ghana to free itself from World Bank and IMF for the controlling and micromanagement of the country’s resources and economy is the introduction, adoption and implementation of a homegrown policy initiative such as E-levy.
Domestic mobilization of financial resources through E-levy, cutting down of government’s expenditure and prudent management of the financial resources generated are the best solutions for addressing the economic problems of Ghana largely due to external global factors.