Dr. John Kwakye, the Director of Research at the Institute of Economic Affairs (IEA), has advised Ghana’s President-elect, John Dramani Mahama, to avoid worsening the country’s debt crisis by relying on borrowing. Instead, he urged Mahama to prioritize the use of Ghana’s natural resources to generate internal revenue for development initiatives.
Dr. Kwakye shared his thoughts on his X account, where he congratulated Mahama on his election victory. He recommended that the incoming administration focus on utilizing the country’s natural wealth as a primary source of funding rather than borrowing, which has historically led to recurring debt issues. “The Mahama government should rely on Ghana’s natural resources for development financing and break away from the cycle of borrowing,” he stated.
He also expressed hope that Mahama would deliver the change Ghanaians are yearning for. “Congratulations, President Mahama, on your hard-fought and inspiring comeback. Ghanaians hope you will use this second opportunity and your experience to bring meaningful change through an inclusive government,” Dr. Kwakye added.
In response, Mahama has criticized the outgoing Akufo-Addo administration for leaving behind significant economic difficulties. He acknowledged the challenges his administration will face as they work to implement reforms and steer the country towards recovery.
Source: TheDotNews