The former Chief Operations Officer of the UT Group, Captain Budu Koomson (Rtd.) has urged government to tell Ghanaians the truth about the state of the country’s economy in a bid to help manage the expectations of the people.
Politicians, analysts and economists have criticized government for not taking pragmatic steps to save the ailing economy which has seen the cost of living rise significantly, amid huge budget deficit and significant depreciation of the Cedi against the major trading currencies.
Although think tanks and various economists have described the economy as “sliding from bad to worse,” government disagrees with them.
Speaking in an interview with Citi News Mr. Budu Koomson stated that Government cannot continue to downplay what he calls the retrogressing economic condition in the country.
“Things are going from bad to worse and things are getting difficult. It’s difficult doing business. For me the person on the street; things are getting tighter. Let us not sugar-coat it, let us tell the public exactly what the conditions are. You see they should manage our expectations, don’t lie to us,” he said.
Captain Budu Koomson (Rtd.) believes the International Monetary Programme (IMF) program will only provide temporal relief to the economy.
“It may give us some temporary shelter. You see the issue is that you have to mess up on your own to go to them [IMF]. We’ve messed up so we just have to go for that temporary shelter. Some companies go into insolvency to get cover to restructure and get back even stronger. So if in the short term that is the hard bullet we have to bite, let’s bite it,” he opined.
By: Godwin Allotey Akweiteh/citifmonline.com/Ghana