Renowned US economist Professor Steve Hanke has once again condemned President Akufo-Addo over the current state of the economy.
In an X post on January 24, Prof. Hanke noted that Ghana is wallowing in debt due to deliberate actions taken by the President.
“Pres. Akufo-Addo is burying Ghana in debt,” he wrote.
Ghana’s public debt has increased to GH₵575.5 billion as of June 2023, representing 71.9% of Gross Domestic Debt (GDP).
Pres. Akufo-Addo is BURYING Ghana in debt. pic.twitter.com/ilrNPHsUCI
— Steve Hanke (@steve_hanke) January 24, 2024
Previously, the Professor slammed President Akufo-Addo over Ghana’s economic crisis, calling him a “masterclass of economic incompetence.”
In a tweet on Saturday, September 23, Prof. Hanke said the ongoing #OccupyJulorbiHouse protests stem from the president’s mismanagement of the economy.
“The #OccupyJulorbiHouse protests in Ghana are rolling right along. Ghanaians have completely blocked off the 37 Roundabout, also known as the Akuafo Intersection, in Accra. PRESIDENT AKUFO-ADDO = A MASTERCLASS IN ECONOMIC INCOMPETENCE,” he wrote.
Meanwhile, Prof. Steve Hanke has predicted the fate of poor countries highly indebted to the IMF.
He avers that the International Monetary Fund (IMF) gets ‘hostages’ by way of poor countries that become heavily indebted to it.
Currently, Ghana is restructuring its debt to receive more funds from the IMF.