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Economic crisis can lead to upheaval; act now – Pianim tells govt

The current economic crisis facing Ghana can cause disturbances, an economist Mr. Kwame Pianim has said.

The current economic crisis facing Ghana can cause disturbances, an economist Mr. Kwame Pianim has said.

He has asked the government to act immediately to tackle the situation in order to avert possible mayhem.

Speaking in an interview with TV3’s Paa Kwesi Asare, Mr. Pianim asked the President to take responsibility and come up with a credible message to Ghanaians.

He also asked all persons to drop their entitlement mentality and follow through with the president if he comes up with alternative programs to ameliorate the hardships.

READ MORE: Drop entitlement mentality and support Akufo-Addo if he comes up with alternative program – Pianim

“The President should take responsibility for this crisis and come up with alternative programs throw away our entitlement mentality and follow the president,” he said.

He further indicated that this is the first time he is seeing hardships of this kind in Ghana.

“This is the first time I have seen such unprecedented hardships being visited on Ghana. The crisis can result in upheaval so we need to stop it now.”

Asked whether, in his view, Ghana can seal a deal with the International Monetary Fund (IMF) before the end of the year, he answered that if Finance Minister Ken Ofori-Atta who has come under intense pressure to leave office, is removed from the Ministry, that can happen.

He said, “with Ken Ofori-Atta gone as Finance Minister and, if the president stands up that this is what I am going to do, I have confidence.”

Mr. Ofori-Atta earlier expressed hope that the IMF would approve the program for Ghana by end of the year.

He told TV3’s Paa Kwesi Asare in an earlier interview on the sidelines of the annual meetings of the IMF and the World Bank in Washington DC that the Fund is motivated to close the deal by end of the year.

“…To get us close to a staff level agreement as possible so that we can incorporate all of our decisions also into the budget so there will be no reversal and therefore, by the year ending, hopefully, the board will approve.

Do you see that happening? he asked.

In response, he said “We have to make it happen, the Fund is very motivated, we are 24/7, we will stay a few more days after this annual meeting and ensure we make solid progress going forward.

“I am excited about where we are, which therefore means that if we complete it by end of the year, disbursements from the fund which replace what we would have done going to the international market. Clearly, in my mind, there is no need for speculation as to where the currency should be.”

Meanwhile, President Akufo-Addo has said the difficult situation Ghanaians are saddled with presently will be over.

He appealed to the people of Ghana to have faith in him to tackle the challenges.

He said at the St Mark Anglican Church at Kyebi in the Eastern Region as part of his three-day tour of the region on Sunday, October 23  that  “I know the challenges Ghanaians are facing, I appeal to you to have faith in me to solve the challenges, this too shall pass.”

Ghana is facing economic challenges just as other countries are also doing.

The local currency, the Cedi is pef0fming poorly against the Dollar.

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