Economist and Professor of Finance Godfred Alufar Bokpin has said that the Bank of Ghana (BoG) governor should have resigned long ago before now, considering the current economic condition of the country.
He made this statement during the Leadership Lecture Series on Wednesday, August 9, 2023.
According to the economist, it would have been best if the governor of the Bank of Ghana had resigned earlier before the country went to solicit funds from the International Monetary Fund (IMF) and went ahead to print new currencies for the government.
” the optimal thing for the governor of the Bank of Ghana was to resign long ago, you’ve (the governor) waited too long, and that would have sent the right signal”
He further stated that Ghana’s problem is not economic but rather a lack of good governance.
Prof. Bokpin added that it will take the country at least thirty years to recover and maintain a balanced economic sheet considering the economic crises the country has been plunged into.
He asserts that no country has ever endured a challenge of this magnitude and survived.
“The crisis we are in now is difficult. Historically, there has never been any country that has gone this way that has survived. It doesn’t happen,” he said.
He was concerned that the country appears to be bankrupt.
He also lamented the high rate of inflation and the country’s indebtedness which has been left for future generations to pay.
Amid the economic woes, Mr. Pianim noted that the government had difficulty addressing the issues.
He criticized the current administration for tackling the issues “from the air” instead of solving them from the bottom to the top.