Tell Ghanaians the true state of the economy – Boakye Agyarko to government

Ghana’s economy is not in the best place, Boakye Agyarko

Only transparency can help rectify economic situation, Boakye Agyarko

Rating agencies downgrade Ghana’s economy

A former Energy Minister, Boakye Agyarko Kyeremateng, has called on government to come clean on the current state of the Ghanaian economy.

According to him, the nation is not in the best possible shape in terms of the economy hence the President and his administration must take the lead in admitting this to the Ghanaian people.

Speaking in an interview on Accra-based Asempa FM on Monday, June 20, the former energy minister, under President Akufo-Addo’s first term of office, said the only way citizens can buy into helping resolve the economic challenges will only take place when transparency is involved.

“The economy is not in a good place. That is the first admission we have to make boldly. And we have to put plans in place and that calls for a collective sacrifice. Let’s share the pain. We are in a situation now where we have played so much, and now we are in dire times. We have to psych the nation for the difficulties ahead of us. We have to take our public financial management seriously and take our responsibility as citizens seriously,” Boakye Agyarko explained.

“No one will come from anywhere to help us. We have to admit that we are living above our standards, we either come down or double up to meet those standards,” he added.

Developing economies like Ghana is currently facing socio-economic setback from the fallout of the COVID-19 pandemic and the ongoing Russia-Ukraine conflict.

The ongoing conflict has also resulted in food and fuel price hikes which have impacted significantly the cost of living in the country.