An American global economist, Prof. Steve Hanke has proposed a possible solution to Ghana’s current economic crunch.

The economist urged the Ghanaian government to quickly instal a currency board.

If it fails to do so, Prof. Hanke said in a tweet on Tuesday, January 10, the already-suffering Ghanaian economy will collapse completely.

He also pegged the country’s inflation rate at 77 percent, contrary to the Ghana Statistical Service’s 54.1 per cent for the month ending December 2022.

“Ghana is in 8th place in this week’s inflation table. On Jan 5, I measured Ghana’s #inflation at a stunning 77%/y. #Ghana’s economy is going down the tubes. To rein in inflation, GHA must install a currency board,” he wrote.