You Are Not Learning – Prof Hanke Jabs Akufo-Addo Over Cedi Depreciation

A professor of Applied Economics at the John Hopkins University in the US, Steve Hanke has raised serious concerns over the free fall of the Ghana Cedi, saying President Akufo-Addo is not learning.

Hanke in series of tweets has criticised  Akufo-Addo for the failing economy, exposing officials over inflation figures in the country.

This month, year-on-year inflation announced by the Ghana Statistical Service after its monthly monitoring for the month of July crossed the 30% mark to hit 31.7%.

The increase in inflation, officials noted, was once again fuelled by Transport (44.6%); Housing, Water, Electricity, Gas and Other Fuels (43.0%).

But Hanke,  has in his calculations disputed Ghana’s inflation figures by officials.

In a tweet, the economist who has been monitoring the economic situations in over hundred countries globally said Ghana is in 6th place in this week’s inflation table.

“On August 18, I measured Ghana’s #inflation at a stunning 77%/yr-more than 2x the official inflation rate of 32%/yr,” Hanke stated.