The Dean of the University of Ghana’s Law Faculty, Professor Raymond Atuguba, has warned that the economy is heading for some difficult period if something radical is not done immediately to rescue it.
Speaking at a public lecture on a review of the 1992 Constitution and its impact on the economy, he noted that Ghana’s current financial state is a threat to its democracy.
He noted that studies have confirmed that an ailing economy facilitates all successful coup d’états in the sub-region.
“A big part of why certain coups succeed and others fail is the economy. What is the state of Ghana’s economy today?
“At the level of the most irreducible idiomaticity, Ghana is broke. Your nation is radically broke. So broke, the Speaker of Parliament has publicly warned, gavel in hand, that we may not be able to pay the salaries of public sector workers in the next three months,” the academic said.
For him, passing the controversial Electronic Transaction Levy (E-levy) Bill is one of the concrete steps to prevent a coup and the economy’s collapse.
Although he described the tax policy with swear words, he noted that funds generated from this taxation will be the country’s saviour.
