Ghana's Economy: Dr Kwakye calls for dollarisation to address cedi depreciation

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[@henryarmah4428]

Reduce the tax rates but increase the tax base and ensure effective tax collection

[@princearthur5532]

How can you advocate dollarization or encourage borrowing in the dollar 💵? Don't you see if you borrow 2 billion dollars the next moment they will print 30 billion dollars to replace it? When you are trading in raw materials and your partners are trading finished products how can you compete with that?.Why does Dr Kwakye want to go into neocolonialization so bad ?

[@mambaman3632]

Have we reached that point yet? Where is this idea coming from?

[@henryarmah4428]

These are textbook economists. Dollarisation is not a solution at all. As long as the economy continues to weaken the cedi will continue to depreciate. Bad economic policies have destroyed our economy.

[@emmanuelameyaw9735]

Please, Dr. Kwakye's solution is not in any economics textbook ok. You can check. So leave us textbook economists alone. Or go find me an economics textbook that says you should dollarize if the currency is depreciating.
Mainstream textbooks on economics is commonsense economics. If our economists in politics who are in charge of policy were textbook economists, our problems will be fixed...but no, they don't follow the textbook and make policies to appease their voters and foot soldiers. We are still a poor country because we don't follow the economic textbook on economic growth. Countries that have followed it are now prosperous or becoming prosperous.

[@anthonyyawtwumasimensah197]

Ken Ofori Atta is the only politician I would describe as genuinely evil.
The man is worse than scum.

[@princearthur5532]

All Ghanaian politicians are scums. How can you advocate dollarization or encourage borrowing in the dollar 💵? Don't you see if you borrow 2 billion dollars the next moment they will print 30 billion dollars to replace it? When you are trading in raw materials and your partners are trading finished products how can you compete with that?.Why does Dr Kwakye want to go into neocolonialization so bad ?

[@anthonyyawtwumasimensah197]

​@@princearthur5532Some politicians are greedy, others are selfish and a lot are incompetent and don't understand how the economic system works.
Ken Ofori Atta is not only all 3 above but a genuinely evil man who was willing to sink the country in order to profit him and his family to an extent never seen in the history of Ghana.
Saying all politicians are scum diminishes the very extreme level of corruption in the form of Ken Ofori Atta.

[@emmanuelameyaw9735]

Where you gonna find the dollars to dollarize?

[@pattrick63]

When we talk about cedi depreciation, we have to qualify that statement. What is the cedi depreciating against. If the answer is the dollar then we have to ask is it cedi weakness or dollar to strength?

[@eugenekwabena5032]

Very solid submissions

[@anthonyyawtwumasimensah197]

This is a terrible idea.

[@pattrick63]

Foolish policy. The dollar is our problem not our solution.