EconomyGhana Risks Economic Fragility Despite BRICS Interest, Consultant Warns
Ghana's pursuit of closer ties with the BRICS bloc, including Brazil, Russia, India, China, and South Africa, will not automatically resolve its persistent economic challenges. A policy paper by Ghanaian banking consultant Dr. Richmond Akwasi Atuahene argues that the country's economic future depends on fundamental changes to its production, processing, import, and export structures, rather than merely shifting international alliances. The paper warns that Ghana could remain poor and indebted even with BRICS membership if it maintains its current economic model of exporting raw materials and importing finished goods. This analysis underscores the need for Ghana to address internal economic vulnerabilities, such as currency depreciation and high inflation, which are driven by its reliance on primary commodity exports and significant imports. The discussion comes as Ghana has faced 17 engagements with the International Monetary Fund since independence, including a recent US$3 billion programme.
Nana Yaw Amoako · 2h ago