Our economy has been classified as grade C by moody an international revered economy rating agency . It means Ghana can not service their debts when they borrow from the international community .
The grading is a disincentive for any international financial agency to subscribe to our bonds if is floated to generate the needed funds to run the economy. The ramifications of the above developments means our economy is bankrupt synonymous to the collapse of our financial sector few years ago.
The 2020 auditor general report indicated that 12,8billion Ghana cedis was captured as part of its qualified report which relates to diverse financial management and infractions. Instead of government to embark on probity and accountability by ensuring those who are implicated by the auditor’s report are held accountable by the public finance committee , nothing has been done .
The government embarked on a wild goose chase by trying to pass the E levy bill just to generate 7 billion Ghana cedis to mitigate their revenue target shortfall for 2022 budget.
I think the managers of our economy lack initiatives, sense of urgency and critical thinking skills. We have to pray as a nation for God intervention. People are suffering for lack of jobs and opportunities.
The consequences of a non performing economy requires consensus building and not partisans ideological persuasions. We must work as a team to succeed as a nation with one common destiny.
Dr. Hassan Ayariga