Economic analyst Joe Jackson
Economic analyst and Chief Executive Officer of Dalex Finance, Joe Jackson, has painted a grim picture of Ghana’s financial situation, stating emphatically that the country remains in deep economic distress.
“Ghana is broke, and we continue to be broke. If you can’t pay your debt, are you not broke? We feed SHS students on less than 2 Cedis a day, so what are we talking about? Anybody who disagrees is living in a different reality,” he said in an interview on The Key Points on TV3.
His comments came as part of a discussion following President John Dramani Mahama’s State of the Nation Address delivered on February 27. Jackson’s assertion reflects growing concerns over the nation’s financial health, debt burden, and the struggle to maintain essential services.
Beyond the debt crisis, he described the challenges in the cocoa industry as “almost criminal,” emphasizing its impact on the cedi’s stability.
“What has been done to the cocoa sector is almost criminal and such that any attempt to hold the value of the cedi this year is going to be severely hamstrung by what has happened in the cocoa sector.”
Jackson also pointed to shifting trends in the financial sector. “From the financial sector, the signs are tremendous.
“The fall in T-bill rates alone and the corresponding domino effect on the rest of the economy is outstanding,” he noted, highlighting the complex economic ripple effects.