Kwame Pianim cautions against Ghana’s economic recolonization due to the country’s reliance on outside consultants and IMF loans.
After Ghana experienced an economic crisis, economist Kwame Pianim expressed concern about the direction of government initiatives.
In an interview with Joy FM, Mr. Pianim lambasted the government’s practice of handing over power to foreign specialists and turning to ongoing IMF borrowing, which he regards as a sign of incompetence.
After 66 years of independence, he voiced dissatisfaction in the nation’s leaders, saying he had anticipated better results.
“Our Finance Minister borrowed, and the Parliament encouraged him to do so. We currently have a representative from the US Treasury holding Ken Ofori-Atta’s hand in the Ministry of Finance. We went to school with these same white boys, and Ken once told me that we were just as excellent as them.
“Now that he is seated there, someone is holding his hand and instructing him in what? And there is a person receiving payment from a Swiss fund that is held at the Bank of Ghana. Our governor traveled the world offering advise to other nations. Furthermore, we are being recolonized, he added.
Mr. Pianim claims that due to corruption and inefficiency, government projects sometimes end up costing double what was originally estimated.
Because of this, he does not think that Ghana’s debt should be erased, but rather reformed to make the government pay and prevent it from making rash borrowing decisions.
Instead of relying on the IMF during times of crisis, Mr. Pianim has advised that the government concentrate on developing indigenous solutions to deal with current economic challenges.
Mr. Pianim voiced indifference to the goal of the three tax bills that the Parliament recently approved, claiming that they have nothing to do with economic growth and fiscal sustainability.
“This tax has nothing to do with economic development or fiscal stability. It is a falsehood, he declared.
He also suggested that Ghana’s administration communicate openly with its citizens.
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