At the maiden lecture at an Independence Day lecture organised by the One Ghana Movement at the University of Ghana on Monday, March 7, 2022, on the theme: "On the State of the Nation’s Economy and Politics: 65 Years After Independence – The Path to Sustainable Development and Democratic Consolidation", he expressed worry over what seems to be a growing intolerance against the expression of opinions on the economy.
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NPP gov't officials are vindictive — Prof Kwesi Botchwey speaks on Ghana's economy
A former Finance Minister, Prof Kwesi Botchwey, has urged the government led by President Nana Addo Dankwa Akufo-Addo to be tolerant and accept that the economy is in a crisis.
Prof Kwesi Botchwey
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He said "Our current travails can be overcome provided we level with the people. The solution to a problem begins with recognising that there is one. It must start with the recognition that it is a crisis and level with the people. We must wind down the hubris, the arrogance, and the show of impunity that the people see."
He added that NPP appointees in government are vindictive when criticised.
"These people are vindictive, and they'll come after you if you criticise them, they said. I was quite dismayed and wondered if this was truly reflective of the public sentiment in our time.
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"Or whether these friends had perhaps missed His Excellency the President's exaltation to us in his inaugural address in 2017 to be citizens, not spectators, which exaltation I was sure he meant in earnest," Prof Botchwey stated.
He has also proposed some solutions for restoring macroeconomic stability.
He called on the government to thoroughly review the economy to cut expenditures and avoid measures that will mortgage Ghana's future.
"We are no longer seen as creditworthy. Our policies are no longer seen as credible in the face of the investor community," he said, adding that "the exchange rate at the forex bureaus is nearing GH¢8 to the dollar. Fuel prices at the filling stations have crossed the GH¢8 per litre bar. Inflation is back in double-digits nearing about 15 percent.
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