Ghana’s economic salvation lies not in shifting geo-political allegiances – Dr Atuahene

The Financial Analyst underscored that Ghana’s economy remains undiversified and vulnerable to external shocks, arguably the most significant underlying cause of bad economic management and chronic instability in Ghana, in addition to revenue volatility, lack of value addition, core structural failures – raw commodity export dependence, chronic weak currency, underdeveloped manufacturing, agric-business and industrialization and the galamsey menace.

He postulated that external economic alliances could be tools, and not cures, indicating that “Whether aligned with the global West or the global South, Ghana will remain economically fragile as long as its core economic structure remains colonial.

He said justifications why Ghana should not join the BRICS now, could be attributable to Ghana’s economic structure, which remains fundamentally deformed by a colonial-style model that relies on exporting raw materials, while importing finished goods, creating deep, recurring cycles of debt, inflation, and currency depreciation.