Ghana’s recent macroeconomic achievements may look impressive on paper but are yet to translate into meaningful relief for ordinary citizens, according to economist Prof Isaac Boadi.
He noted significant improvements such as inflation dropping sharply from over 21 percent to around 3.4 percent within a year, alongside declining debt ratios and stronger international reserves.
However, Prof Boadi argued that these positive indicators have not eased the persistent cost-of-living pressures faced by Ghanaians, highlighting a clear disconnect between official statistics and everyday realities.
“If you check all these indicators, it tells you that on paper you look good. But if you check the cost of living for individuals, that is where the real paradox is found,” he said on the Asaase Breakfast Show on Monday, May 25.
He partly agreed with critics who suggest that Ghana’s programme with the International Monetary Fund (IMF) has succeeded in stabilising key macroeconomic indicators but has fallen short in addressing deep-rooted structural problems in the economy.
Prof Boadi urged the government to prioritise long-overdue structural reforms recommended by the IMF, particularly those aimed at increasing domestic production and improving foreign exchange earnings.
Editor:
Obiri-Yeboah
