Economist and Lecturer at the University of Ghana, Dr.Adu Owusu Sarkodie has stated that the Finance Minister’s claim on inheriting an economy on its knees when the current administration came into power is far from true.
Speaking after the Mid-Year Budget Review on July 23, 2026, Dr. Sarkodie explained, that the figures available don’t support the Finance Ministers Claim adding that the economy was on the path of recovery after the 2024 general elections .
“So, clearly, we cannot see that the economy as of the end of 2024 was an economy on its knees. It was on the path of recovery.” he stated
Dr Sarkodie also called for the internalization of the IMF PCI program the country is currently on ,explaining when done properly there will be no need to return to the IMF for support.
“And even currently, we still have the PCI, the Policy Coordinated Instrument, which will stay with us for 36 months. My opinion is that we should internalise this PCI in such a way that we may not need an IMF programme again, but we can resolve the issues ourselves.” he added
He ended by calling for a collective fight against inflation, explaining that the Bank of Ghana in its current state cannot achieve the inflation target alone without the contribution of other agencies and ministries.
“The fight against inflation should not be left in the hands of the Bank of Ghana alone.Bank of Ghana today is not in a good position to keep sterilising and taking the bullet on behalf of all other agents in the economy. The fight against inflation should be a shared responsibility between Bank of Ghana, Minister of Finance, Minister of Trade and Industry, Agribusiness, Minister of Agriculture, Minister of Trade, Transport, Minister of Roads and Highways, all real sector players must come on board, communication, all other sectors must come on board to fight against inflation.” He said
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