Stop Lying, Economy Is In A Mess….Ismael Yamson Jabs Akufo Addo

Economist, Dr. Ishmael Yamson, has said that the Akufo-Addo government must stop tiptoeing around the painful truth that the economy is in a mess.

Speaking to PM Express, Tuesday, he said the first right step to take towards solving the problem is to admit that indeed there is a problem.

“My own experience is if you want to solve a problem, you must understand what that problem is and you must admit what the problem is. The admission that you have a problem with me is 80% of the solution. Because if you admit that you have a problem then you are more eager to look for a solution. But it doesn’t seem to me that we accept the fact that we’re in very difficult times,” he said.

“It is a very difficult situation we have to the extent that we can’t access Europe money. And don’t forget Europe money helped this country a lot to stabilize the macro environment, the fiscal environment, and the moment we lost it, we were exposed,” he said.

Amidst a debt conundrum that has had a devastating knock-on effect on the country’s economy, the Akufo-Addo government has been claiming that the cause of the problem is the COVID-19 pandemic and the Russia/Ukraine war.

The World Bank has said this is not the case and the Russian embassy in Accra has taken offence, however, the government has not let go of that claim because it is its last straw to save face after messing up the economy.

Also, the Statistical Service’ claim that inflation is just a little over 23 percent was recently discounted by a Professor of Applied Economics at the Johns Hopkins University who said his calculation shows inflation is actually more than 45 percent.

Amidst the government’s half-truths and downright lies, Bolga Central MP, Hon. Issac Adongo earlier in the week revealed that the Finance Ministry headed by Ken Ofori-Atta has begun avoiding phone calls from investors who are owed US$12billion borrowed from the Eurobond and interest because there is no money to pay back.