'Emotional babies' managing Ghana - Budu-Koomson

A former Chief Operations Officer of the UT group, Captain Budu-Koomson (Rtd), has stated there are too many emotional babies in charge of Ghana which is greatly contributing to the failure to revive the worsening economy.

'We have emotional babies managing all aspects of our national life, all levels, from the presidency to the labourer,' the CEO for Nexus consulting told Kafui Dey, host of the Morning Starr on Starr 103.5FM .

The Ghanaian economy has since the beginning of 2014 been faced with some critical challenges including high inflation, rising debt, slow economic growth, power crisis, high cost of living, amongst others.

This compelled the nation to seek a three-year programme from the International Monetary Fund which begun in January 2015.

Despite moves by government to save the ailing cedi from further fall, it appears the local currency is still struggling to keep its head above the water.

The dollar last week hit four cedis at forex bureaus across the country after rallying between 3 cedis 80 and 3 cedi 90 peswes for some weeks now.

It started the month of May at 3 cedis 85 pesewas, hitting at least 4 cedis, 3 pesewas by the third week of May.

Contributing to a discussion on the continuous depreciation of the cedi, Budu-Koomson said Ghana is a country with repetitive failure thinkers who continue to give excuses and fail to put in place measures to save the economy.

'We are repetitive failure thinkers because it has happened and happened, when are we going to get smart, is this the first time that we have given this excuses, is this the first time we are hearing excuses for the underlying woes of the cedi, which of the examples they are given are new that we haven't heard before,' Budu-Koomson said Tuesday.

credit:starrfmonline