Saying Ghana Is in Deep Crisis Is an Understatement – Prof Bokpin on Economic Situation

Professor Godfred Alufar Bokpin, a Financial Economist at the University of Ghana (UG) says government's approach in dealing with the economic challenges facing the country "appears like trying to trick or surprise the market".

"The approach government is using in managing all of these appears like trying to trick or surprise the market . . . we know that Ghana is in a deep crisis, in fact in economics if there was any word beyond crisis that is what we will be using now . . . we all do acknowledge that we have to come out of this . . . " he said.

Speaking in an interview on Peace FM's morning show 'Kokrokoo', Prof Bokpin said to come out of this situation government needs to have "some moral authority" and call various stakeholders for a "broader consultation".

" . . Broader consultations, the humility to acknowledge where we have gone wrong and where we can do better, that brings everybody to the table is very critical now . . . we need negotiations, to do so you have to come to the negotiation table with some moral authority . . . failure to do that, it’s going to be difficult for us to get out of this," he averred.

"Consensus building is the way to go and to do this, it requires honesty and transparent," he added.