Ghana’s choice to enter an economic program with the IMF will not save the economy, according to Professor Steve Hanke, a famous international economist at Johns Hopkins University in the United States.
He asserts that a financial rescue package from the Bretton Woods Institution is certain to fail, just like Ghana’s prior 17 IMF programs.
Steve Hanke questioned Ghana’s last-ditch effort to salvage the economy, which is in trouble and burdened with a mountain of debt, in a tweet he posted on July 2 in which he shared his thoughts on the government’s plan to start formal negotiations with the IMF for a bailout.
The prominent American economist rated the Ghana cedi in 16th place out of 18 other currencies on his Currency Watchlist on July 2 due to the currency’s ongoing deterioration.
