Prof Hanke Says “Akufo-Addo Is Dreaming” About Promise To Turn Ghana’s Economy Around

• Bleak comments from renowned economics professor Steve Hanke suggest that Ghana may be in for a long economic crunch
• According to the John Hopkins University scholar, president Nana Akufo-Addo was dreaming when he said he would restore Ghana's economy back in shape
• Prof Hanke also tweeted that Ghana's inflation is 148% and not the 37.2% official figure

Applied Economics professor Steve Hanke has said it is impossible for president Nana Akufo-Addo to solve the debilitating economic challenges.

The John Hopkins University professor said Akufo-Addo was dreaming when he said in his national address on the economy that he was confident about weathering the current economic storm and steering to glory days.

Concluding his address on the economic crisis on Sunday, October 30, 2022 the president made the following comments:

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“I have total confidence in our ability to work our way out of our current difficulties. We are not afraid of hard work. We will triumph, as we have triumphed many times before. Let us unite, and rally around our Republic, its institutions and its democratic values, and insist that, under God, we will emerge victorious from our current difficulties. For this too shall pass, as the Battle is the Lord’s.”

However, tweeting about the president’s speech on Tuesday, November 1, 2022, Prof Hanke said the establishment of a currency board by Ghana would be a first step to dealing with the economic crisis.

“Pres Akufo-Addo says he has "total confidence" in his ability to save Ghana's economy. SPOILER ALERT: he is dreaming. Today I measure GHA's inflation at 148%/yr. W/o a currency board, like the Gold Coast’s (1913-1958), GHA's economy will stay in the tank,” he tweeted.

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Ghana’s Inflation Rate Is Second In The Word

In another tweet on Tuesday, Prof Hanke also said his estimates of Ghana’s inflation rate shows an astronomical jump over the last few weeks to bring the country to the second position on his weekly inflation table.

He said his estimates of Ghana’s inflation rate was 148%, which is more than 3.5 times the official Ghana Statistical Service inflation rate of 37.2%.

Zimbabwe tops the table followed by Ghana and then Cuba.

“Ghana is in 2nd place in this week's inflation table. On Oct 27, I measured Ghana's #inflation at a stunning 148%/yr--over 3.5x the official inflation rate of 37.2%/yr. To rein in inflation, Ghana must install a currency board, NOW!," he tweeted.

Ken Thompson Kneels In Emotional Video To Beg Akufo-Addo To Fix Crippling Economy

Meanwhile, CEO of Dalex Finance Company Limited has begged the president to fix the current economic crisis.

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Bright Simons finds inaccuracies in Akufo-Addo’s speech on economy

YEN.com.gh reported in a previous story that Ken Thompson during in an interview on Accra-based Citi TV, went down on his knees and begged the president as he painted a gloomy picture of the country’s economic outlook.

He then called on the president to take concrete steps and implement measures to save the economy from total collapse.

Source: YEN.com.gh