Baltimore, Maryland, Steve H. Hanke has once again taken a swipe at Akufo-Addo over his style of economic management.
He said under Akufo-Addo’s government, things kept getting worse by the day, citing the rising cost of fuel and the prices of food.
Modernghana News sighted a statement on the economic expert’s Twitter handle on Sunday, July 17, in which he suggested that Ghana must immediately dissolve its central bank (the Bank of Ghana), place it in a museum and install a currency board.
“Under Pres. Akufo-Addo’s leadership, things just keep getting worse. Sky-high food & fuel costs have triggered violent protests. Ghana must mothball its central bank, put it in museum, and install a currency board, NOW,” he tweeted.
In another tweet by the US economist, he posited that the negotiations with the teacher unions where the government agreed to pay 15% per cent of the Cost of Living Allowance (COLA) out of their proposed 20 per cent was completely wrong.
To him, that amount is too little to cushion teachers predicting another protest to hit the government as economic conditions continue to worsen.
“Ghana has averted a planned strike over pay of public workers by increasing the cost of living allowance by 15%. SPOILER ALERT: The 15% increase was way too small to keep up with inflation, which I measure at 50%/yr. So, protests will soon reappear,” he stated.
His comments follow news article posted by an International portal, known as Reuters which was captioned, “Ghana government averts strike, reaching allowance deal with trade unions.”
