"Economist Accuses Government of Exploiting Covid-19 to Worsen Economic Woes"

" Economist Accuses Government of Exploiting Covid-19 to Worsen Economic Woes \r\n\r\nProfessor Godfred Bokpin of the University of Ghana has accused the country\u2019s political leaders of exploiting the Covid-19 pandemic to exacerbate Ghana's economic challenges.\r\n\r\nIn remarks made on JoyNews' Newsfile on July 27, Prof. Bokpin contended that while Covid-19 inflicted significant harm on Ghana, the government's response to the pandemic has worsened the economic situation.\r\n\r\n\u201cThe impact of Covid-19 on Ghana is more about the actions taken in response rather than the pandemic itself. It appears that the virus was used as an opportunity to exacerbate existing issues,\u201d he stated.\r\n\r\nProf. Bokpin compared the situation to the previous financial sector cleanup, noting that the overall costs far exceeded the anticipated benefits.\r\n\r\nHe also highlighted the energy sector as a significant concern, projecting a shortfall of approximately GHS 98 billion through 2026, which could threaten fiscal stability.\r\n\r\nHe further noted that while domestic and external debt restructuring has provided some financial relief, it has merely deferred addressing the core problems.\r\n\r\n\u201cDespite creating some fiscal space through restructuring, the fundamental issues remain unresolved, indicating a long journey ahead,\u201d Prof. Bokpin remarked.\r\n\r\nHe criticized the government's handling of debt accumulation, stating, \u201cGiven the amount of debt incurred over the past seven and a half years, the real assets generated do not reflect prudent management.\u201d"

"Economist Accuses Government of Exploiting Covid-19 to Worsen Economic Woes"

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