Yaw Buaben Asamoa is director of communications for the NPP

NPP Director of Communications, Yaw Buaben Asamoa, explains that the reason why Ghana is not getting the maximum utility needed from the country’s raw materials is the lack of investment in the knowledge of Ghanaians.

He added that after more than sixty years of independence, the country is still exporting raw gold.

He lamented that Ghanaians cannot process their own raw gold.

“Ghana does not have a local gold industry”.

He added that the NPP government has a plan to invest in human capital and in the sector of the economy that can create jobs and in which the necessary human capital will be invested.

“I agree that the global economy is in trouble. If you isolate the Ghanaian economy in this context, you start to create the impression that we are an island in our own right. But in this modern world, there is an international economy,” he stressed.

Mr. Buabeng Asamoah asserted that the Ghanaian economy is much more integrated than other countries, Ghana imports everything, which means the country is in the currency market… in the foreign exchange market.

“We are involved in other countries because when they produce in those countries, the impact on prices and other things impact us when we source these products to ship to Ghana. Throughout, this value chain is a cost to Ghana. And then you have to find the dollar, the cedi and the currencies locally to convert all the profits into foreign currencies to re-export them”.

Mr Buabeng Asamoah noted that the global economy was in its comfort zone before being hit by Covid.

“So we are integrated. The problems of the international economy are more or less reflected locally. Before Covid arrived we were doing reasonably well. We averaged 7% growth from 2017 to 2019. In 2020, we were hit by Covid 19 in March. Before Covid, the rest of the world was doing well. Interest rates were negative. In other words, they weren’t interested in giving money. Governments encouraged lending. They weren’t even asking for interest,” the NPP communications director said.

He said the government was in debt as the country could not maintain production due to the pandemic. He added that the government was also looking after the people during the pandemic.

“The standard of living is falling because the standard is rising. So now we are facing the same thing in Ghana, this Post Covid. We were unable to maintain production because of the Covid. And now we are in a situation where during Covid-19 the government had to spend money to protect the population. Which means that public spending has increased. So we have a public debt. We still have to help people out of Covid because people have lost their jobs.”

Mr Buabeng Asamoah said the difficulties are not based on government actions. He indicated that the NPP has done its best during the difficult period when the country has gone into lockdown.