Political Scientist and Head of European Studies at the University of Ghana, Dr. Kwame Asah-Asante, has raised concerns about Ghana’s economic progress since independence, saying the country has achieved very little economically despite its abundant natural resources.
Speaking in an interview on Prime Morning Show to mark Ghana’s 69th Independence anniversary, Dr. Asante noted that the country continues to struggle economically due to poor resource management.
According to him, although Ghana is richly endowed with minerals and other natural resources, the country still depends heavily on borrowing from external sources to survive.
He cited the decision by former President Nana Addo Dankwa Akufo-Addo to seek financial assistance from the International Monetary Fund in 2022 as an example.
Dr. Asante pointed out that Ghana secured about $3 billion from the IMF at the time, a situation he believes reflects the country’s inability to properly manage its own resources.
“On the economic front, very little has been achieved since independence. Despite all the minerals and natural resources we have, we still go around borrowing from other countries for survival because of poor resource management,” he said.
He stressed that until Ghana begins to effectively manage its resources and build a more sustainable economic system, the country may continue to face similar economic challenges.
Dr. Asante made these remarks while reflecting on Ghana’s progress since gaining independence from United Kingdom on March 6, 1957.
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