POLITICS
“Ghana’s Hyper-inflation Is Self-inflicted” – Justice E. Appiah Opines
Quizzing, if a 13% increase in transport fares in February 2022 can push the Consumer Price Index ( Inflation) to 23.4% in April, then what do you think will happen after a 20% increase in transport fares in May. Your guess is as good as mine. Predictably, we are likely to hit 30% in May/June.
Inflation is now more dangerous than Covid -19 and should be treated as a national security issue. Recently, the National Security Coordinator through the Ministry of National Security has issued a security alert to religious organizations to enhance their security due to imminent security threats in the subregion compounded by the current economic hardships. But, how did we get here? We are here mainly due to winning the election at all cost(2020), mismanagement, corruption, and misappropriation of our scarce resources, and the love for killer, obnoxious and regressive taxes which are contrary to what they promised.
Apart from war-torn Sudan, failed Zimbabwe, Ethiopia, and Angola, Ghana is next with 23.4% inflation for the month of April 2022. Our neighboring countries, Nigeria, Côte d’Ivoire, Togo, and Burkina Faso are hovering between 3% – 15.9%. Is Ghana the only country in the subregion affected by Covid -19 and Ukraine- Russian War? Clearly, we are not doing things right as a country. The sad thing is that our resources are being wasted on the personal comfort of the President and his family and friends at the expense of ordinary citizens.
The excuse for the Covid – 19 and Ukraine – Russian War is nothing but a shirking of responsibility and lack of leadership since leadership is about taking responsibility and solving problems to make life better for ordinary people. It is about time, that Akuffo Addo-Bawumia- NPP-led government stops blaming the current economic quagmire on others and current global happenings, and takes the bull by the horn.
Interestingly, the current managers of the economy led by Dr. Bawumia were very loud in opposition and promised to move the country from taxation to production. However, the opposite is what is happening. Borrowing is unabated, over six(6) new taxes have been introduced in 2021 and 2022 alone, and their expenditure is on consumption instead of capital investment which will bear fruits in the near future. It is therefore not surprising that rising food prices and transport fares are the major drivers of the current hyperinflation, we are experiencing.
Inflation is silently and consistently eroding the real value of our income at such an alarming and uncontrollable rate. Urgent and pragmatic steps must be taken immediately to address this canker since the ordinary Ghanaians: the trotro and taxi drivers, kayayes, truck pushers, traders, farmers, teachers, nurses, etc. would bear the biggest brunt of this silent killer called inflation. Indeed, Ghanaians are really suffering and deserve better!
