Ghana's monetary policy has failed to drive economic transformation, says Professor Mohammed Hadrat Yusif, a Professor of Economics at the Kwame Nkrumah University of Science and Technology (KNUST).
Delivering his inaugural lecture on the topic "Monetary Policy in Ghana: Revisiting the Tobin's Model," Prof.
Yusif described Ghana's economy as "trapped in a cycle of debt, underdevelopment, and poor leadership." He highlighted that Ghana, once at economic parity with countries like South Korea and Malaysia in the 1950s, now lags far behind, citing poor infrastructure, high inflation, and weak reserves. "Monetary policy alone cannot save Ghana.
We need fiscal discipline, innovation, and a truly independent central bank," he said.
