Stop Using Economic Indicators to Judge Ghana’s Progress – Nyaaba-Aweeba Azongo
Mr. Nyaaba-Aweeba Azongo, the vice-presidential candidate for independent presidential aspirant Mr. George Twum Barimah has said Ghana’s development should not be assessed solely through economic indicators but through population variables.
Speaking on Kessben Maakye in Accra, he pointed out that the principles of economics, as standardized globally, are predominantly derived from the experiences of the UK and the USA. This, he argued, creates a bias that fails to address the unique realities of other countries, especially in the developing world. According to him, the significant disparity between first-world and third-world nations cannot be adequately captured by these principles.
Mr. Azongo criticized micro-economic indicators, stating they often obscure a country’s true economic situation. He described these measures as outdated, adding that the essence of human development cannot be encapsulated by GDP, as even noted by a renowned British economist.
He also identified flaws in the Growth-Oriented Development Model, arguing that it is constrained by environmental factors that simultaneously contribute to destruction. Issues such as unemployment, poverty, and growing inequality gaps, he said, underscore the inadequacies of this model.
To illustrate his point, Mr. Azongo cited Namibia, which boasts high success rates under the model but also has the highest inequality rates in the world. He questioned the model’s effectiveness, noting that it has been rejected by some developing nations in favor of homegrown approaches.
He referenced the World Bank’s encouragement for countries to demystify development economics and adopt policies tailored to their unique circumstances, rather than relying on a one-size-fits-all approach. According to him, the World Bank acknowledged that first-world countries succeeded by adopting homegrown models and urged others to follow suit, advocating for investments in domestic institutions and localized knowledge systems rather than over-reliance on global market blueprints.
Mr. Azongo criticized the Growth-Oriented Development Model for emphasizing raw material exports and dependence on international aid—approaches he argued have done little to benefit Ghana’s economy.
Turning his attention to governance, he decried the country’s current economic, social, and environmental crises, attributing them to decades of mismanagement by the two dominant political parties, the NPP and the NDC. As evidence, he cited a 2024 statistic showing that 6.9 million Ghanaians live in extreme poverty—more than the populations of Namibia and Botswana combined.
He emphasized that his campaign’s slogan of “breaking the two” goes beyond a desire to gain power; it represents a mission to dismantle the entrenched duopolistic political system that has governed Ghana since 1992. He stated that their goal is to reimagine, redefine, and repurpose Ghana’s development model, which, under successive NPP and NDC administrations, has yielded little progress.
Mr. Azongo highlighted their vision of “common prosperity for all Ghanaians,” advocating for a people-centered development approach. He argued that citizens should be viewed as both the means and purpose of development, not merely tools for production or sources of taxation aimed at boosting economic metrics.
Story by: Juliet Ayiih
