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Thursday, March 30, 2023

Government should be smaller to save money, says a UG Associate Professor

The University of Ghana Business School’s Department of Finance Associate Professor has added his voice to the chorus of stakeholders pleading with the government to scale back.

Elikplimi Komla Agbloyor claims that reducing the number of appointments will help to improve the economy.

He thinks that by doing this, the public will be assured of the government’s concern for the current predicament.

“We don’t need so many ministers. The number of ministers is excessive for a small nation like Ghana.

“I believe I read in the media that there are simply too many communicators at the president. We can save a lot of money if we reduce the numbers, he remarked.

Speaking on Joy News’ Newsfile on Saturday, he asserted that the nation’s financial difficulties require the government to demonstrate to its people its concern for their means of subsistence.

We are going through a terrible moment, and the administration needs to demonstrate that they care about the people by truly listening to them, he said.

He also provided a list of actions that, when taken, will encourage citizens to share the load.

“Again, if they can take meaningful salary reductions, I know they did about 30%, but if they can do more or even say that for the next six months or the next year, they are going to put their hands to the wheels and ensure that we build Ghana together, then people can see there is a lot of burden sharing,” he continued.

Bondholders on an individual basis have been asking to be excluded from the government’s debt swap program.

Some have said that they have already experienced enough economic hardship and that them would worsen their circumstances.

They claim that unless the government restores some commissions earned on their funds, they will be unable to make any more sacrifices.

The issue of burden sharing has also come up, as bondholders feel that the government is reluctant to carry any burden at all.

Others, however, believe that the method of communication, particularly when the government claims to have not been open and truthful, may be the issue preventing a resolution with the government.

Content created and supplied by: Kobbyy (via Opera
News )

Department of Finance
Elikplimi Komla Agbloyor
University of Ghana Business School


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