A senior political science lecturer at the Kwame Nkrumah University of Science and Technology (KNUST) has observed that the country’s economic crisis is self-inflicted.

He explained that the government brought the current situation on itself.

Dr. Kwaku Amakye Boateng attributed the status quo to financial indiscipline in managing the cost of government spending and borrowing. 

In the face of an economic crisis, Ghana now sits with the International Monetary Fund (IMF) for an Extended Credit Facility programme. 

Through IMF assistance, the country may be provided financial support of $3 billion to influence policies to restore economic stability and growth. 

Speaking to Luv FM’s Clinton Yeboah, on Thursday, Dr. Amakye Boateng observed that there has been no precautionary analysis employed in government borrowing. 

“Politicans don't factor cost and cost implications in policy formulation and implementation. Ghana is where it is because we didn't pay attention to the cost and balancing of books. So we were just using the country’s positive image to take loans. 

We have messed the economy up and are now in a terrible mess. And it is the ordinary Ghanaian who bears the brunt. Our economy has not been in the hands of proper managers,” he said. 

Meanwhile, Dr Amakye indicates that several laxities of the government, including nepotism have led to an unimpressive record of corruption.

“The record of Nana Akufo Addo is not impressive. Political corruption, and personal appropriation of national resources and it is an irony that Ghana faces economic challenges yet, the situation still lingers. The President should be able to handle some of these things, concerning issues involving the people he appointed. 

“Nepotism under this government is dangerous. There are too many family members in government. Under your watch, the economy is viewed as not credible,” he said.