Prof Hanke Ranks Ghana As 15th-Most Miserable Country In The World: "Thanks to Akufo-Addo’s Incompetence"
- Prof Steve Hanke has launched another attack on Nana Akufo-Addo's management of the Ghanaian economy
- Commenting on Ghana's 15th position on the Hanke's Annual Misery Index for 2022, the John Hopkins University scholar said Akufo-Addo is incompetent
- Per the latest misery index, Ghana is the most miserable country in the West African sub-region
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The Hanke's Annual Misery Index for 2022 has ranked Ghana as the 15th-most miserable country in the world.
According to the index, misery tends to flow from high inflation, steep borrowing costs, and unemployment.
"In Ghana, the cedi is junk. By my measure, inflation in Ghana stands at a Terrible 64%/yr. Thanks to Pres. Akufo-Addo’s incompetence and economic mismanagement, Ghana is the 15th-Most Miserable Country in the world in the Hanke 2022 Annual Misery Index," Prof Steve Hanke tweeted on Thursday, May 25, 2023.
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Per the index, Ghana is grouped among the 15th top miserable countries with Zimbabwe, Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, and Tonga.
For Ghana, the major contributing factor to misery is inflation.
Akufo-Addo has been the master of economic mismanagement - Hanke
Meanwhile, YEN.com.gh has reported in a separate story that Professor Steve Hanke slammed Nana Akufo-Addo for mismanaging Ghana's economy.
The applied economist described Ghana's president as the master of economic management in a tweet on May 15, 2023.
The academic at US-based John Hopkins University said he is not surprised that Ghanaians have lost hope in the country.
Akufo-Addo is dreaming about promise to turn Ghana’s economy around
Also in November last year, there were bleak comments from the renowned economics professor when he suggested that Ghana may be in for a long economic crunch.
According to the scholar, president Nana Akufo-Addo was dreaming when he said he would restore Ghana's economy back to shape.
Prof Hanke also tweeted that Ghana's inflation was at least five times higher than official figures at the time.
Akufo-Addo’s “economic stupidity” has taken Ghana nowhere
The US-based economics professor again jabbed President Akufo-Addo for his "economic stupidity" in November 2022.
The critic of the Akufo-Addo government said Ghana was going nowhere good 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 higher than the official figure for November 2022.
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