The Deputy Chief Executive Officer of the Forestry Commission, Elikem Kotoko, has criticised the previous administration for what he describes as an overreliance on the Russia-Ukraine war as an excuse for Ghana’s economic challenges.
According to him, the consistent attribution of nearly all economic difficulties to the war reflected a deeper failure in leadership and economic management.
“If you ask anything about the economy, the response was Russia-Ukraine war,” he said, questioning the justification for widespread economic hardship during that period.
Mr. Kotoko maintained that although the global conflict had an impact, it was not the sole cause of Ghana’s economic downturn, insisting that inefficiencies in governance worsened the situation.
He pointed to inflation levels that rose above 50 percent and a sharply depreciating cedi during the period, arguing that these developments could not be explained by external shocks alone.
Citing the International Monetary Fund (IMF), he noted that the Bretton Woods institution had also highlighted lapses in fiscal discipline, reinforcing concerns about domestic economic management.
The Forestry Commission official further questioned why ongoing global tensions have not produced similar economic instability under the current administration.
“Has the Russia-Ukraine war ended? No,” he said, adding that the cedi has shown relative strength despite continued global pressures.
Mr. Kotoko also addressed public misunderstanding about inflation, explaining that a drop in inflation does not mean prices will fall, but rather that they will increase at a slower pace.
He urged a more informed national conversation on economic issues and called for a review of taxes and levies within the fuel pricing structure to help reduce the burden on consumers.
