A financial expert, Dr Sidi Ali has refuted claims by the current NPP administration and the leadership of the IMF that the country’s economy has seen a significant improvement following the financial aid from the International Monetary Fund (IMF).
Speaking in an interview with GIFTS FM morning Show dubbed Anopa Bosuo chaired by Kwaku Mensah Abrampa, Dr Sidi Ali expressed that nothing shows an improvement in the economic situation of the country because an economy is considered a robust one when there is significant improvement in its currency but recent ratings described Ghana as 3rd country with worst currency performance in Africa therefore nothing signifies an economic growth of the country.
He said the depreciating rate of the Ghana cedi keeps increasing fuel prices locally, which subsequently affects almost all sectors of the economy.
Reacting to the state of the country’s inflation rate, Dr Sidi Ali noted that the reduction of inflation to 23% doesn’t impact the economy in reality because prices of goods and services are still on the rise stressing that inflation in its better state must not exceed 15 percent because better inflation must fall within a single digit.
He added that the exchange rate is overwhelmingly increasing with 1 dollar equivalent to 13-14 cedis which according to him also affects the country’s economic conditions making it difficult for people to live a life that pleases them.
Source:Mybrytfmonline.com/Kwaku Mensah Abrampa
