Josiah
Dr. Frank Bannor, a Senior Research Fellow at the Institute of Economic Research and Public Policy (IERPP), has criticized the Mahama administration for relying on rhetoric rather than implementing practical policies to address Ghana’s economic challenges.
In a letter addressed to the Minister for Finance, Dr. Cassiel Ato Forson, Dr. Bannor urged a shift toward sound economic strategies that would help restore investor confidence.
“The markets will always expose attempts to manage the economy through propaganda,” he stated. “How can treasury bills sell between 15–20 percent when inflation remains high at 23%?”
He also questioned the rationale behind the current monetary policy, noting, “The policy rate has surged to 28%. Mr. Minister, which rational investor would be attracted to instruments with such poor returns?”
To stabilize the economy, Dr. Bannor called on the Finance Minister to urgently align treasury bill rates with prevailing inflation and macroeconomic conditions. He warned that failing to do so could have severe repercussions.
“Any failure to address these imbalances could result in dire consequences for the economy,” he cautioned.
Dr. Bannor concluded by advising the Minister to prioritize impactful economic measures over rhetoric, urging the government to adopt policies that foster stability and sustainable growth.
Source:Omanghana.com
