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Kwame Pianim, a prominent Ghanaian economist, has recently warned of the potential for Ghana’s economic recolonization through its reliance on foreign experts and borrowing from the International Monetary Fund (IMF).
Pianim has criticized Ghana’s recent trend of appointing foreign experts to key economic positions, stating that this practice undermines the development of local talent and perpetuates a dependency on external expertise. He has also expressed concern over Ghana’s increasing reliance on borrowing from the IMF, arguing that such loans come with strict conditions that often prioritize the interests of foreign creditors over those of the country’s citizens. After 66 years of independence, he expected better performance.
Pianim has called for a renewed focus on developing local expertise and investing in homegrown solutions to Ghana’s economic challenges. He has also urged the government to pursue a more balanced approach to borrowing, including seeking loans from other sources beyond the IMF.
Pianim’s warnings come amid growing concerns over Ghana’s economic outlook, with the country grappling with high debt levels, inflation, and a weakening currency. His calls for a more sustainable and locally driven approach to economic development are critical in shaping Ghana’s future trajectory.
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Source: Omanghana.com/SP
