Steve Hanke, a professor of applied economics at Johns Hopkins University in the United States, has once more charged that the Akufo-Addo government is mismanaging the Ghanaian economy.

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This time, Prof. Hanke has specifically targeted President Nana Addo Dankwa Akufo-Addo, whom he sees as the primary cause of Ghana's current economic situation.

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In a tweet on September 27, the US-based economist said that President Akufo-economic Addo's policies had caused Ghana's economy to "go through the tubes."

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He also calculated Ghana's inflation rate at 83 percent/year, which is twice as high as the official 33.9 percent for August of this year reported by the Ghana Statistical Service.

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By his estimations, Prof. Hanke ranked Ghana in 7th place among 22 other countries reeling from the impact of inflationary pressures.

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“Ghana is in 7th place in this week's inflation table. On September 22, I measured Ghana's #inflation at a stunning 83%/yr--over 2x the official inflation rate of 34%/yr. During Pres. Akufo-Addo's reign, #Ghana's economy has gone down the tubes,” Prof. Hanke wrote.

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The Professor of Applied Economics, who has taken a keen interest in Ghana's economic issues, has on numerous occasions said the economy was tanking – an expression which means the economy is down and there are fears of a recession.

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Ghana is currently holding official negotiations with the International Monetary Fund for an economic support programme. The country is targeting around US$3 billion from the Bretton Woods institutions once an agreement can be reached.

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High cost of living, depreciation of the cedi, revenue generations constraints, fallout from the Russia-Ukraine war among others have been attributed to some of Ghana's economic challenges.

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Consumer inflation for August 2022 hit 33.9 percent from 31.7 percent in July, making it the highest rate recorded in 21 years.

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