Economic takeoff: Ghana has been on the tarmac for 64 years - Kwame Pianim

Economist Kwame Pianim has stressed the importance of achieving macroeconomic stability if the economy of Ghana can achieve real progress.

In comments made in Accra (December 12), he likened economic takeoff to that of a plane. "I will liken the economic takeoff of any nation like a plane trying to take off," he submitted.

In the case of Ghana, he averred that after over six decades, Ghana had yet to achieve economic takeoff and that the economic plane has since been on the tarmac.

"We in Ghana have been on the tarmac all these 64 years, we need to prepare and take off. Without macroeconomic stability, we cannot take off. So, we are still on the tarmac," he told a gathering at the University of Professional Studies, Accra (UPSA).

Pianim has been a strong critic of the Nana Addo Dankwa Akufo-Addo-led government in terms of its economic management.

He is on record to have supported the removal of finance minister Ken Ofori-Atta at the height of a push by ruling party lawmakers for the minister to quit.

The economy has been a topical issue in recent months following a downturn occasioned by galloping inflation, depreciating currency and general decline in the quality of life coupled with high cost of living.

The government has serially blamed the aftermath of COVID-19 and the Russia-Ukraine war before submitting to a US$3 billion IMF loan last year, if which US$600 million as tranche one has been credited to government account.

SARA

The economic take-off of any nation is like a plane trying to take-off.

Ghana has being in the tarmac for 64 years - Kwame Pianim, Renowned Economist

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— Kafui Dey (@KafuiDey) December 12, 2023