Ghana’s economic problem similar to Greece – Nunoo-Mensah

Source: adomonline.com  -  Head of Human Security Department of the National Security Department, Brigadier General (Rtd) Joseph Nunoo Mensah has called on Ghanaians to take interest in the on-going Greece debt crisis talks as Ghana is heading similar direction.

Brig Nunoo Mensah speaking on Asempa FM’s Ekosii Sen Thursday said with the country failing to tackle the problems with the economy, he would not be shocked if Ghana travels the path of Greece which needs a bailout to survive.

“We have economic problem similar to Greece…we have to take interest in what is going on in Greece because we can end that way,” he warned. 

The European country has had to depend on bailouts from members of the Eurozone to sustain its economy which has a soaring unemployment rate and negative economic indices.

Greece is expected to present new proposals to secure a third bailout from creditors and prevent a possible exit from the eurozone. 

It’s Finance Minister, Euclid Tsakalotos is currently in a crisis talk with members of the eurozone to secure the bailout.

And this economic crisis, Brig Nunoo Mensah said, is likely to befall the country which has import-dependent economy like Greece and IMF dependent.

“You can’t point to one country that have solve their economic problems with IMF…Ghana is living like Greece which imports everything and it is difficult to sustain an import-dependent economy like this…,” he said.

Ghana would be committing economic suicide if it continues to depend on IMF support since according to him, the prescription of the Breton Woods institution gave Greece which did not help it come out of its financial crisis is the same thing been delivered to Ghana.

“We are taking the drugs [IMF prescription] but we are still getting slim…so what is exactly wrong with us…,” he quizzed.

Brigadier Nunoo Mensah further diagnosed the country’s problem as one which is stemming from the over-reliance on imports adding that it is important Ghana grows what ‘we eat.’

He also called on Ghanaians to develop the passion for work since according to him, that is the only means of making money.