Alan Kwadwo Kyeremanteng has asserted that Ghana’s economy is still fragile.
The former minister of trade and industry, Alan Kwadwo Kyeremanteng has opined that Ghana’s economy is still fragile and has the tendency to break.
Few days after the cabinet minister resigned, he, in a public address via the media and his official social media handle mentioned that Ghana’s economy is still not resilient even though the country has had many governments.
The former trade and industry minister argued that Ghana as a country has subscribed to the support of the IMF several times but we still do not have a cemented economy. He attributed the fragility of the economy to the over-dependence and high taste for foreign goods without a corresponding value in exports.
“This is the seventeenth time that we have gone to the IMF over the last 57 years. We promised never to go back but we have gone back. One of the lessons that we have learnt from the recent developments is that Ghana’s economy is still fragile, vulnerable and susceptible to both external and domestic shocks. This primarily is as a result of the fact that our economy is highly dependent on the export of commodities with little or no value addition,” he said.
Mr. Kyeremanteng said, Ghana’s economy is vulnerable and susceptible to damage. He expressed his heartfelt gratitude to the president for giving him an opportunity to serve the good people of Ghana.