General News of Saturday, 16 August 2014
Financial Analyst Sydney Casley Hayford has attributed the nation’s current economic challenges to what he describes as a leadership paralysis within the Mahama-led administration which results in government taking wrong decisions.
“The fact of the matter is we have a paralysis in leadership…we are not able to make the decisions that we need to make in order to change things,” Mr. Sydney Casley Hayford said.
He was responding to concerns raised by the General Overseer of the International Central Gospel Church (ICGC) over Ghana’s poor state of leadership.
Speaking on Citi FM’s News Analysis programme The Big Issue, Mr. Casley Hayford described Ghana’s socio-economic challenges as “disappointing and disheartening."
He said though government had on several occasions heard and listened to concerns raised by Ghanaians, they cannot brace themselves to do what should be done.
Mr. Casley Hayford said the only way government will be able to fix Ghana’s problems is for it “to be clear on its short-term, medium-term and long-term goals.”
He further noted that government is cash-strapped because economic activities are depressed due to bad policies introduced by government.
“We are paying taxes but the tax collection is not coming in as admitted by the Ministry of Finance itself, because economic activities are depressed, and the depression of economic activities is from bad government policy failure. ..Government is taking wrong decisions, “ he said.
He therefore advised government to engage in economic activities to generate more revenue for Ghana’s economy.
“Ghana is in a vicious circle that we can’t seem to break very easily and the only way to get more revenue, and more taxes is for government to figure out a way of getting economic activities back,” he said.