The Dean of School of Business at the University of Cape Coast (UCC) in the Central Region says the people of Ghana have lost confidence in the Economic Management Team (EMT).
Professor John Gatsi says it is now up to the government to restore the confidence of the people by bringing all hands on deck to solve the dire economic situation in Ghana.
The Dean was commenting on the retreat by the ruling New Patriotic Party (NPP) government, led by President Nana Addo Dankwa Akufo-Addo to decide whether to go to the International Monetary Fund (IMF) for an economic bailout and stick to the e-levy for economic revival.
“As long as the government thinks they can do it alone, Ghanaians will continue to have low confidence in the government but that confidence will come when we are nationalistic and not polarized as we have today,” Prof Gtasi said.
“Everything they are doing now is partisan and all that you are doing does not resonate with the masses. It does not resonate with the people,” he added.
He noted that “there is no confidence in leadership of the management of the economy and we need to do radical engagements to restore confidence in the people”.
“No matter the amount of money you pump into the system will not resonate with the economy. Restoration of credibility will bring stability because of the lack of credibility in the international economy”.
Reasons for retreat
The economist said “it is only proper to congregate and take a decision on the situation on either to go to the IMF or the e-levy”.
“Some key members of the [government] said the IMF is not an option and that the e-levy is the only opportunity they have, so if they are going to meet and decide on an IMF against e-levy, then perhaps the decision has already been taken to go to the IMF.”
He noted that “the Finance Minister and the President and many other key members of this government indicated publicly that the IMF is not an option, e-levy is their option so why now…going to decide on e-levy or IMF?”
Prof Gatse said “it means there has been some engagement with the IMF and they want to share with the members”.
“[Government] need to engage them again, let them know why you are going to the IMF, what message would they give to the people of Ghana.”