Professor Patrick Asuming, a leading economist at the University of Ghana Business School, has warned that corruption and inefficient governance are at the heart of Ghana’s ongoing economic struggles.
Speaking on ABC News GH on Wednesday, February 19, Asuming stated that the country’s debt crisis is exacerbated by issues of poor governance.
“Some of the immediate challenges are more or less a governance issue—how we have allowed the system to produce high levels of corruption and the inefficient use of public funds,” Asuming explained.
He emphasized that these challenges need urgent attention if Ghana is to achieve sustainable economic growth. He also stressed the importance of a long-term strategy for economic revival.
The economist stated, “We just need a longer STEM strategy,” calling for structural, technological, and macroeconomic reforms to address Ghana’s economic woes.
He urged policymakers to act quickly to regain public trust and resolve the governance issues that continue to cripple the economy.
