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Economist Kwame Pianim voices concerns over government’s reliance on foreign experts and borrowing

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Economist Kwame Pianim has expressed his dissatisfaction with the government’s handling of the economic crisis in Ghana. In an interview with Joy FM, he criticized the government’s reliance on foreign experts and constant borrowing from the International Monetary Fund (IMF), which he sees as a sign of incompetence.

He expressed his disappointment with the leadership of the country, stating that after 66 years of independence, he expected a better performance.

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Mr. Pianim is unhappy with the current trend of borrowing without a clear plan for repayment, and the fact that foreign experts are being hired to hold the hands of the Finance Minister, Ken Ofori-Atta.

He believes that these experts are being paid exorbitant amounts of money while Ghanaians are left to suffer the consequences of reckless borrowing.

Mr. Pianim believes that government projects are often overpriced due to incompetence and corruption. As a result, he does not support the idea of Ghana’s debt being forgiven but instead recommends that it should be restructured in a way that will compel the government to pay back.

The economist also advised the government to focus on creating home-grown solutions to address the current economic crisis, rather than relying on the IMF during times of crisis. He expressed indifference towards the recent approval of three tax bills by Parliament, stating that they have nothing to do with growth and fiscal sustainability.

In conclusion, Mr. Pianim urged the government to be transparent with the people of Ghana and to work towards finding long-term solutions to the country’s economic challenges. He believes that with proper planning and execution, Ghana can achieve sustainable economic growth and development.

 

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