International Relations Analyst, Dr. Ishmael Hlovor, has urged Ghana to explore alternative sources of funding, cautioning that the nation’s over-reliance on foreign aid could have dire consequences.
Dr. Hlovor’s remarks come in response to the shutdown of the United States Agency for International Development (USAID) by U.S. President Donald Trump.
He warned that depending too heavily on external financial support makes Ghana vulnerable to the political and economic decisions of donor countries, which could jeopardize national development projects and economic stability.
He emphasized the need for Ghana to strengthen domestic revenue mobilization, attract sustainable foreign investment, and leverage public-private partnerships to drive economic growth.
According to him, developing a self-reliant economy would protect Ghana from abrupt policy shifts by foreign governments and ensure long-term financial independence.
Dr. Hlovor called on policymakers to prioritize industrialization, diversify the economy, and enhance tax collection mechanisms to reduce the country’s dependence on aid.
He also urged the government to explore regional partnerships within Africa to foster trade and economic cooperation as a means of securing sustainable development.
With the global economic landscape becoming increasingly uncertain, Dr. Hlovor’s warning serves as a wake-up call for Ghana to take proactive steps toward financial resilience.
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