Financial indiscipline, mismanagement, overspending cause of economic mess not Covid, Russian-Ukraine war- Economist

A chartered economist Mr. Prince Obiri Yeboah, has asked the government to stop using the Cov id-19 pandemic, and the Russian-Ukraine war as an excuse for mismanaging the economy.

The economist explained that although the Covid-19 and Russian-Ukraine war could have had an impact on the current state of the economy, the major cause of our woes has been necessitated by the mismanagement, financial indiscipline and incompetence on the part of the government.

He said, over the last three years, Ghana has faced challenges, including the outbreak and the Russian-Ukraine war, coupled with financial indiscipline, which has led us to the International Monetary Fund for a bailout.

He said when people are faced with challenges, they seek excuses and those to blame. But when you evaluate our situation, you will discover that there was fiscal indiscipline from the President to his appointees.

For him, the Covid-19 outbreak affected several countries but Ghana did not have any major negative impact on the economy as people make it seem.

”The leaders we voted for have not been financially disciplined. Governance is about revenue and expenditure, and when you overspend or spend more than what you generated, you will face an economic crisis and borrow more. That is what we find ourselves today. We have overborrowed and have no other option than to go to the IMF to seek a bailout.”

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