Kofi Bentil, the vice-president of IMANI Africa has suggested to the government to tackle food inflation in a bid to lessen the impact of the current economic challenge on Ghanaians.
His comment comes after the Bank of Ghana raised the policy rate to 300 basis point from 19% to 22% to check rising inflation in the country.
“The inflation we are facing now is being driven by the poor economy, the Russia-Ukraine war and general rises in fuel, and it is driving global inflation,” he said on Townhall Talk (19 August).
“That has exacerbated a local situation, and the local situation is our debt and the cedi,” Bentil said. “At IMANI we have calculated that the Ukraine-Russia war affects 30% of what goes on here.”
“We can have a lot of inflation, but if the average Ghanaian wakes up and consumes a lot of local goods without imported inputs, he will not feel so much the effect of the inflation, …if we can focus on agriculture and make sure at least we have food inflation very low, the effect of inflation will not be so much felt,” Bentil said.
