Advertisement
Advertisement
Ghana News

IEA Director of Research urges policymakers in Ghana to prioritize opinions of economic experts and think tanks

Advertisement

Ghanaian policymakers have been criticised by Dr John Kwakye, the Director of Research at the Institute of Economic Affairs (IEA), for failing to pay attention to the opinions of economic experts and think tanks. According to Dr Kwakye, the refusal of policymakers to listen to the views of experts has contributed to Ghana’s current economic challenges.

In a tweet, Dr Kwakye expressed his disappointment with policymakers who believe they can “have their say and we will have our way,” leading the country to “find ourselves in economic doldrums.” The Director of Research called for the establishment of an independent parliamentary budget office, which he claimed several developed countries, including the United States and the United Kingdom, have.

Advertisement

Speaking at a forum with a group of Civil Society Organizations, Dr Kwakye said that the idea of a parliamentary budget office is that it is “marked by independent professionals.” He cited the examples of the US and the UK, which have a conventional budget office and an office of budget responsibility, respectively, and suggested that Ghana should follow suit.

Dr Kwakye’s comments come amid concerns about Ghana’s economic performance, which has been impacted by the Covid-19 pandemic. The country’s economy contracted by 1.1% in 2020, its first contraction in nearly four decades. Despite efforts to revive the economy, Ghana’s debt-to-GDP ratio has surged to over 70%, and there are fears that the country could struggle to repay its loans.

For the most part, economic experts and think tanks have called for the government to implement structural reforms, including improving fiscal discipline, reducing corruption, and boosting private sector investment. However, many of these recommendations have not been heeded by policymakers, who have been accused of ignoring the advice of experts.

In a nutshell, Dr John Kwakye’s criticism of policymakers in Ghana highlights the need for the government to listen to the opinions of economic experts and think tanks. By establishing an independent parliamentary budget office, Ghana can benefit from the input of independent professionals who can help steer the country towards a more sustainable economic future.

Advertisement
Advertisement

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker!