Professor Steve Hanke, an economist from Johns Hopkins University in the United States, has voiced concern over Ghana's economic situation under the leadership of President Nana Addo Dankwa Akufo-Addo.

The professor asserts that the president's lack of understanding of economic principles has contributed to the country's struggle with inflation, which it had targeted to be at 8%.

Hanke posted his views on Twitter, stating, "Pres. Akufo-Addo is quite unfamiliar with the science behind economics. No surprise that Ghana is MILES from its 8% inflation target."

Additionally, he suggested an alternative solution to address the ongoing economic challenges.

Drawing attention to Ghana's historical use of a currency board from 1912 to 1958, he proposed that the country should reconsider the installation of a currency board system to help address the situation.

A currency board system entails the strict pegging of a country's currency to that of a major stable currency, usually backed by a sufficient reserve of foreign currency.

This mechanism aims to provide a credible commitment to price stability and curb inflation.

#GhanaWatch: Pres. Akufo-Addo is quite unfamiliar with the science behind economics. No surprise that Ghana is MILES from its 8% inflation target. It’s time for Ghana to install a currency board, like the one it had from 1912-58. pic.twitter.com/ZTNNdOn8KB

— Steve Hanke (@steve_hanke) August 17, 2023