Veteran Ghanaian economist Kwame Pianim has raised concerns about the current state of the economy.
According to him, the best thing for President Akuffo-Addo to do now is to declare a state of emergency over the economic crisis.
He made this comment in reaction to the $3 billion bailout deal the country has managed to secure from the IMF.
Speaking in an interview on TV3, monitored by 1Family Radio, Pianim noted that it’s high time the government told the country the true state of the economy, as advised by the International Monetary Fund (IMF).
“Now we have to put all our cards on the table and tell Ghanaians we are in deep crisis,’’ Pianim noted.
“Those are the words that the IMF uses: we are in a deep crisis, and to solve the deep crisis and get out, we have to be serious, declare a state of emergency, and tell every Ghanaian we all have to tighten our belts; we are in an economic crisis,’’ he said.
He further urged the president to reduce the size of government in order to show how serious he is about curbing the country’s current economic woes.
“Some of the symbolic cutting will show that we are reducing the size of government to make it lean and smart and that expenditures that are not going to yield output are going to be suspended,’’ he added.