Covid – 19 Is Not Solely To Be Blamed For Ghana’s Current Economic Crisis – World Bank. May 2022

While speaking at the Independence Day Lecture in Accra, Country Director to Ghana for the World Bank; Pierre Laporte disclosed that the COVID-19 pandemic isn’t the only cause of Ghana’s current economic hardships as purported by some key politicians.

According to him, the crisis which poses alot of challenges to Ghanaians were forecasted before happening and that, his outfit had held talks with the Ghana government. He also revealed that, it shall be very difficult for the government to avert the consequences of the this economic crisis.

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He also disclosed that the government was warned severally to cut down it’s expenditure in order to salvage Ghana’s wrecking economy as there were already signs of crisis before the pandemic.

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“The situation is very difficult right now. Ghana faces a very tough road ahead to restore macro-sustainability.”He (Finance Minister) acknowledges the severity of the situation. Yes, COVID has not helped, but even before COVID, there were signs that the situation was getting a little more challenging,” he is quoted.

Apart from this iconic statements, other voices like that of Professor Kwesi Botchwey also called for the government to cut down it’s expenditure during the lecture.

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Covid - 19 Is Not Solely To Be Blamed For Ghana's Current Economic Crisis - World Bank 1

 

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