Dr. George Domfe, a renowned economist and senior research fellow at the University of Ghana, Legon, has strongly disputed claims by IMANI Africa that almost One Million Ghanaians have been thrust into poverty due to economic crisis.
Speaking on Movement TV’s popular morning show, “Movement In The Morning,” with sit-in host Gordon Asare-Bediako, Dr. Domfe argued that the World Bank report’s methodology is fundamentally flawed and relies on outdated data, neglecting the impact of recent economic reforms.
“The report’s analysis is based on estimations, not thorough research,” Dr. Domfe explained, highlighting the limitations of the report’s approach.
Dr. Domfe emphasized that the last comprehensive living standard survey conducted in Ghana was in 2016-2017, and no subsequent research has been done to assess poverty levels.
“I dare Franklin Cudjoe to provide evidence that almost one million Ghanaians have been plunged into poverty,” he said, challenging the report’s findings and calling for more rigorous research.
He stressed that relying on outdated information can lead to misleading conclusions and ineffective policy decisions, ultimately hindering the country’s progress.
This comes after the Founder and President of IMANI Africa, Franklin Cudjoe, criticized the Minister for Finance, Dr. Mohammed Amin Adam for his claim that the ruling New Patriotic Party (NPP) government has outperformed the National Democratic Congress (NDC) in economic management during their eight years in power.
In a post shared on Facebook on June 25, 2024, Franklin Cudjoe asserted that Ghanaians are still struggling with the economic challenges caused by the Nana Addo Dankwa Akufo-Addo government.
According to him, under this government, over one million Ghanaians were pushed into extreme poverty due to poor economic management.
The IMANI boss added that it is only under this government that the savings of thousands of Ghanaians were wiped out through financial haircuts.