Politics
Kwaku Kwarteng, MP for Obuasi West Likens Ghana’s Economy to Ponzi Scheme
Kwaku Kwarteng, MP for Obuasi West and Chairman of the Committee on Economy, has criticized Ghana’s economic management, likening it to a Ponzi scheme.
He highlighted the practice of offering high interest rates to lenders, borrowing more, and using a portion of the borrowed funds to repay previous debts and cover current overspending.
Kwarteng attributes Ghana’s economic crisis to bad politics and economic mismanagement, emphasizing the need for a change in approach to address the country’s economic challenges.