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Opinions of Wednesday, 10 January 2024

Columnist: Anthony Obeng Afrane

Is the current state of the Ghanaian economy a foundation of concrete or straw?

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In a Junior High School, the following conversation ensued between a teacher and his class:

Class Teacher: I returned from work, opened my door, and saw 50 million dollars on my bed. Assuming you were in my shoes, what would you do?" asks the teacher.

Student: I will bite your toes until you faint. I will then come out of your shoes and take all the money!
Teacher: Fool! You can't literally be inside my shoes. It's a figure of speech.
Student: You can't literally open your door and see 50 million dollars on your bed! In this economy, who will keep it there? That's a figure of impossible speech.

On a much lighter note, the poor leadership of the Akufo-Addo/Bawumia-led government has plunged the country into total crisis.

It is said that truth and deceit can never dwell in one house because truth has powerful forces on its side, and anyone who trades in falsehood or makes spurious promises will be exposed, and this is exactly what is happening to the Akufo-Addo/Bawumia-led government.

On Thursday, September 8, 2016, the then-running mate of the NPP, Dr. Mahamudu Bawumia stated at a lecture themed, “The State of the Ghanaian Economy, a Foundation of Concrete or Straw” that the NDC government has borrowed some 39 billion dollars in the last eight years that it has been in power, and that it is only a lazy government that borrows. He didn't end there:

“I worked at the Bank of Ghana and so I know that Ghana is rich, it is because the managers of the economy are incompetent and so all that they think of is borrowing. The NPP if voted for, will harness resources in Ghana to develop Ghana. I am telling you we can develop Ghana without borrowing. The money is there," he added.

Interestingly, Ghana's total public debt which stood at GHS120 billion as of December 2016, when the NPP won the elections, has gone up to about a whopping GHS600 billion in seven years with very little to show.

Consequently, Ghanaians are going through excruciating hardship, and I agree with the poor student that you can't open your door and see 50 million dollars on your bed in this economy.