Steve Hanke Slams Akufo-Addo In Latest Tweet: "He Has Been The Master Of Economic Mismanagement"

Steve Hanke Slams Akufo-Addo In Latest Tweet: "He Has Been The Master Of Economic Mismanagement"

  • Professor Steve Hanke has slammed Nana Akufo-Addo for mismanaging Ghana's economy
  • The applied economist has described Ghana's president as the master of economic management in a tweet on May 15
  • The academic at US-based John Hopkins University said he is not surprised that Ghanaians have lost hope in the direction Ghana is heading

PAY ATTENTION: Enjoy reading our stories? Join YEN.com.gh's Telegram channel for more!

A critic of the Nana Akufo-Addo administration has expressed his disapproval of the President of Ghana's economic management in a tweet on Tuesday, May 15, 2023.

Professor Steve Hanke, an academic at US-based John Hopkins University, said he is not surprised that a huge majority of Ghanaians said in a survey that they think the country is heading in the wrong direction under Nana Akufo-Addo.

"According to Afrobarometer, 87% of Ghanaians think their country is heading in the wrong direction. I'm not surprised," he said.

Prof Hanke has slammed Nana Akufo-Addo for mismanaging Ghana's economy
Nana Akufo-Addo (L) and Prof Steve Hanke. Source: Getty Images.
Source: Getty Images

Akufo-Addo is a master of economic mismanagement

Reacting to an article by FT titled, "How Ghana’s economy became a cautionary tale for Africa", the professor of Applied Economics said Akufo-Addo has mismanaged Ghana's economy.

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ click on “Recommended for you” and enjoy!

The article discussed Ghana's decline as a fast-rising economic powerhouse in the West Africa sub-region because of overspending and indebtedness.

"President Akufo-Addo has been the master of economic mismanagement," he said.

Akufo-Addo’s “economic stupidity” has taken Ghana on a road to nowhere

In a previous tweet, Prof Hanke jabbed President Akufo-Addo for his "economic stupidity".

The John Hopkins scholar said Ghana was going nowhere under Nana Akufo-Addo's administration.

He also revealed that Ghana's inflation was rising sharply, and has reached 149%, which is over three times more than the official figure.

Finance expert projects grim outlook for Ghana in 2023

Meanwhile, YEN.com.gh has reported in a previous story that an experienced finance analyst has said Ghana could face worse economic times in 2023 despite assurances by the government that things will get better.

Haruna Alhassan of the Centre for Social Justice has said international and domestic factors all point to a tough 2023 for Ghana.

Alhassan said the domestic debt exchange programme, for instance, would adversely affect firms and result in job losses; also food inflation will persist in 2023.

New feature: Сheck out news that is picked for YOU ➡️ click on “Recommended for you” and enjoy!

Source: YEN.com.gh

Online view pixel