A Ghanaian professor in management at Viterbo University in the United States of America, Professor Enoch Opoku Antwi has criticised the government for putting the country’s creditworthiness into junk status.
This comes after rating agency, S&P and Fitch downgraded Ghana’s credit rating to CCC+ or junk status.
According to Professor Opoku Antwi, the situation the country finds itself is worrying, urging the government to move fast to bring live into the economy before its too late.
Speaking to Joy Business, Professor Opoku-Antwi who is also the Co-founder of Aceye Scholars Club, pointed out that Ghana should also consider setting up its rating agency and work assiduously to ensure a stable economy in the wake of the global crisis.
“If you look at the current ratings, it is very disappointing. This indicates we don’t have leaders who can run the affairs of this country. I think we need to have our own credit rating in Ghana”, he bemoaned.
“Our leaders have failed. They must admit their wrongs and find remedy to the current mess quickly”, he added.
Engaging some group of young people, Co-founder of Aceye Scholars Club, Emmanuel Acquah, said government must consult the youth in designing policies to create jobs.
This according to him, will play a key role in finding solutions to Ghana’s economic challenges.
“Government should engage the youth to deliberate on strategic direction for the country. Stakeholders within the economy should support the youth and I believe we won’t have rating agencies downgrading us always”, he stated.
The Africa Centre for Entrepreneurship and Youth Empowerment is an entrepreneurial and policy think tank dedicated to the promotion of entrepreneurship and free markets.
The club aspires to become the leading think tank of excellence in entrepreneurial policy analysis, training, education and policy advocacy on effective utilisation of Africa’s youthful population to engender a sustainably effective and efficient entrepreneurial growth within the context of free markets and libertarian values.