The World Bank has said that Ghana’s current economic mess is scarier than what is being propagated by government.
According to Country Director of the World Bank for Ghana, Pierre Laporte, the New Patriotic Party (NPP) government has to be circumspect about the state of the economy.
He said the government has to let Ghanaians know the dire situation they’re in.
Speaking at a public lecture organised by the OneGhana Movement on Monday March 7, 2022, the World Bank Country Director described Ghana’s economic situation as ‘very serious’.
“Is it a really serious situation? Well, the numbers speak for themselves. The situation is very serious. At the World Bank, we’ve not hidden the fact when we’ve held discussions with government officials and even the head of state that, Ghana faces a very tough road ahead to restore macro sustainability,” Pierre Laporte cautioned.
“Yes, COVID-19 has not helped. But even before COVID-19, there were signs that the situation was getting a little bit challenging. So, the key thing is to be transparent with the people. Yes, the figures speak for themselves, but not everybody is as educated as we are.”
“Not everyone understands what the numbers mean, so it is important to talk about it like we are doing. More important is for us to find solutions for the problem,” he added.
President Nana Addo Dankwa Akufo-Addo recently underscored the importance of shoring up Ghana’s fiscal space for development.
According to him, he cannot move the country forward alone, therefore, needs the support of everyone to create a progressive and prosperous Ghana.
He stated that the government wants to “transform Ghana into a world-class economic hub which will benefit every single Ghanaian.”
“I will not renege on my pledge to help create a progressive and prosperous Ghana. I, however, cannot do this alone. I need the backing of each and every one of you if we are to bounce back together, and build a Ghana beyond aid,” he noted.
