Bright Simons questions government’s Ukraine war explanation for economic crisis

Vice President of Imani Africa, Bright Simons, has criticised the Akufo-Addo administration for attributing Ghana’s economic difficulties largely to the Russia-Ukraine war.

Speaking at the 2022 Baah-Wiredu Lecture, Mr. Simons argued that while the conflict affected economies worldwide, it could not fully explain Ghana’s economic challenges, noting that the country’s economy was not more exposed to the crisis than many others.

He said factors such as government expenditure, wastage by Metropolitan, Municipal and District Assemblies (MMDAs), and the cost of maintaining government machinery also contributed to the country’s economic difficulties.

Meanwhile, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said Ghana’s economic hardship was driven mainly by external shocks, including the COVID-19 pandemic and the Russia-Ukraine war, rather than poor government policies.

ADVERTISEMENT

She noted that many countries faced similar economic pressures and stressed the need for international support to help Ghana recover.