Ghana’s problem is just one damn thing after the other — US Economist

Steve H. Hanke, an applied economics professor at Johns Hopkins University in the United States says Ghana's problem is unending.

The economist who has been studying Ghana's economic situation for some time now has revealed that the country's problems are becoming more severe.

In a tweet on Friday, August 5, the economic expert stated that the country's inflation rate is increasing at a rate of 56 per cent per year, according to his measure.

He also lamented the Marburg virus outbreak in Ghana, making the situation dire for the country.

“Ghana's inflation rate, by my measure, roars at 56%/yr. If that wasn't enough, the Marburg virus has hit, taking the life of one child this week. It all confirms my School Boys Theory of History: It's just one damn thing after another,” his tweet reads.

In a similar tweet, Steve Hanke wrote, “In #Ghana, the Marburg virus outbreak has claimed its third victim. If that's not bad enough, GHA's inflation continues to soar. Today, I accurately measure inflation in Ghana at a sky-high 57.5%/ yr, ~1.9x the bogus official rate.”

Ghana's economic situation has been performing badly in recent years, as market prices continue to rise on a daily basis.

Following the severe hardships endured by its citizens, the government has requested IMF balance-of-payments assistance (IMF) to shore up the sinking economy.

According to a recent Bloomberg survey, Ghana is the second country with a ballooning debt risk, after El Salvador.