{"id":68187,"date":"2024-03-06T18:04:58","date_gmt":"2024-03-06T18:04:58","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=68187"},"modified":"2024-03-06T18:05:23","modified_gmt":"2024-03-06T18:05:23","slug":"there-is-no-point-in-celebrating-independence-day-development-economist","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/there-is-no-point-in-celebrating-independence-day-development-economist","title":{"rendered":"There is no point in celebrating Independence Day \u2013 Development Economist"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Development Economist Dr. George Domfeh has expressed deep concern over Ghana\u2019s economic situation.<\/b><\/p>\n

He has described the current state of the country as increasingly depressing.<\/p>\n

Explaining this, Mr Domfeh stated that the country\u2019s \u201chope and future is in the hands of well to do and economically stable countries\u201d that leverage on this weakness to \u201cdictate to the country what it should do, how it should do it, and when we should do it.\u201d<\/p>\n

Speaking to Nana Yaa Brefo and Isaac Ekow JB on Yen Nsempa on Onua FM, Mr Domfeh stated that he finds it mind boggling that the country celebrates Independence Day as the continued reliance on Western donors renders Ghana\u2019s independence questionable.<\/p>\n

\u201cWe claim our country is 67 years, but at 67 still we beg and seek heavy aid, there are a lot of things we haven\u2019t accomplished as a country,\u201d he said on March 5.<\/p>\n

\u201cThey\u2019ll always dictate for us, telling us what to do, when to do it and how to do it, speaking about Ghana is becoming depressing. I do not engage in activities related to 6th March, I do not see the independence of which we celebrate, I don\u2019t think we\u2019ve gotten there yet.\u201d<\/p>\n

The Economist stated that it is due to this over dependence on other countries that the Finance Ministry is advising President Nana Addo Dankwa Akufo-Addo against signing the anti-LGBTQ+ bill.<\/p>\n

This comes after the Ministry of Finance in a press release on Monday, March 4, pleaded with President Akufo-Addo not to assent to the recently passed anti-LGBTQ bill by Parliament.<\/p>\n

The Finance Ministry cautioned that approving the bill could result in significant financial consequences for Ghana.<\/p>\n

According to the Finance Ministry\u2019s statement, Ghana stands to lose a substantial amount of World Bank financing, estimating a potential loss of USD$3.8 billion over the next five to six years.<\/p>\n

Specifically, the impact for 2024 includes a loss of USD$600 million in budget support and USD$250 million for the Financial Stability Fund, adversely affecting Ghana\u2019s foreign exchange reserves and exchange rate stability.<\/p>\n

As Ghana grapples with these challenges, Dr. Domfeh\u2019s remarks serve as a poignant reminder of the urgent need for the country to chart a path towards economic self-sufficiency and assert its sovereignty in global affairs.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Development Economist Dr. George Domfeh has expressed deep concern over Ghana\u2019s economic situation. He has described the current state of the country as increasingly depressing. Explaining this, Mr Domfeh stated that the country\u2019s \u201chope and future is in the hands of well to do and economically stable countries\u201d that leverage on this […]<\/p>\n","protected":false},"author":84,"featured_media":68186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[5092,5096,429],"class_list":["post-68187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nThere is no point in celebrating Independence Day \u2013 Development Economist - Ghana<\/title>\n<meta name=\"description\" content=\"Development Economist Dr. George Domfeh has expressed deep concern over Ghana\u2019s economic situation. 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