[ 2015-06-03 ]

“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 excuses, is this the first time we are
hearing excuses for the underlying woes of the
cedi, which of the examples they are giving are
new that we haven’t heard before,”
Budu-Koomson said Tuesday.

Source - Starrfmonline

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