Cause of Ghana’s Economic Woes Purely Political – Economist

Dr Theo Acheampong, a UK-based international petroleum economist has called on the current and successive governments to find innovative ways of plugging revenue loopholes.

He said Ghana’s failure to effectively generate enough revenue domestically has been the cause of the country’s over reliance on the international market to raise funds.

“I must say that since our country got exposed to the capital markets, we have become very lazy… Putting plasters on our [economic] wounds, but allowing them to fester unhealthily,” Acheampong said on Asaase 99.5 Accra’s Townhall Talk show.

“We treat the symptoms of our economic issues when clearly our political style is what is handicapping our development. This is a wider discussion that as a nation, we must have.”

He added: “I must stress that… our economy is a symptom of a bigger problem; a problem of a hard styled adversarial political structure that gives no room for bipartisanship.”