Soon Ghana will not be able to pay salaries of workers – Kwame Owusu Danso

Host of Good Morning Africa on Pan African TV, Kwame Owusu Danso has said soon government of Ghana will soon not be able to pay salaries of workers in the country.

“The way we are managing our economy as it stands now, the only way forward is that we will not be able to pay the salaries of workers. We will get to the point where the salaries of workers will not be paid because Ghana will soon be broke”.

“I am not a doomsayer but from how we are conducting ourselves and where we are going it is eminent and am inclined to believe same to be true that Ghana will be so broke that we won’t be able to pay workers,” he added.

Mr Owusu Danso made the comment while speaking on Good Morning Africa as one of the panelist on Wednesday August 17, monitored by GhanaPlus.com.

He was contributing to discussions on report that Nigeria, Ghana’s neighboring country is currently unable to pay salaries of  its workers.

He said the situation confronting Nigeria is not peculiar to Ghana adding that government will soon follow suit looking at the country’s present economic crises.

Ghana in Economic crises

Ghana since January this year have not been fairing well economically, making life difficult for it citizens.

High cost of living coupled with unemployment, rising cost of petroleum products and it multiple effect on food and services have become a concern to many.

Goernment have blamed the development on the COVID-19 pandemic which hit the world some two years ago and recently the Russian-Ukraine War which began in February this year.

Again, Ghana’s currency, the Cedis has also fallen drastically against the American dollars currently trading 1GH to $10o plus.

It is currently said to be one of the worse performing currencies in the world.

Ghana’s credit worthiness have also been downgraded by several rating organisations across the globe including S&P Global Rating, FITCH and host of others affecting investor confidence in the government’s ability to reserve its loans.

Source: GhanaPlus.com