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Ghana Has Great Thinkers, Lacks Idea Implementers – Bawumia

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Ghana does not lack good thinkers and great economics, the challenge has been the lack of consistency in the application of these good economic management ideas over a long period for the country’s benefit, Vice President, Dr Mahamadu Bawumia has suggested.

He said the time has come to marshal solutions for the country’s problem whiles calling for the need to ensure an effective and consistent implementation of ideas espoused by great thinkers and economics to take the Nation out of its economic doldrums.

The Vice President paid glowing tributes to the memories of Ghana’s past Finance Ministers and Economic such as J.H. Menash, Kwame Mpiani, Dr. Shiabor, Dr. Kwabena Dufour among others for their roles in the economic transformation of the nation.

He noted that Ghana has since 2006 missed every deficit target and has therefore charged the current Finance Minister, Ken Ofori-Atta to ensure that it is not missed this time round.

The Vice President was speaking at the launch of the Ghana Economy Club in Accra. He stated that the time has come for the country to get out of the challenge of aid dependency into a new era of self-sustaining economy.

He challenged the Club to be an effective idea hub with firmness and without fear to enhance the development of the country.

Government’s economic management team he said is ready to engage Civil society group, such as Economic Club of Ghana.

According to the Vice President, macroeconomic stability is necessary but not enough hence government’s resolve to ensure a structural transformation of the economy to value addition to the Nation’s natural resources and focus on industrialization.

Dr. Bawumia advocates a solution oriented economy with definite solutions based on specific time lines to address the myriad of challenges.

Professor Kwesi Botwey, Ghana’s longest serving Finance Minister who was the Guest Speaker at the launch of the Ghana Economic Club gave a historical antecedence of Ghana’s economic trajectory.

He called for the need to address one of Ghana’s fundamental challenge of fiscal discipline where fiscal balances are not managed well leading to deficits.

Former Vice Chancellor of the University of Ghana, Professor Ernest Aryettey said Ghana’s performance since 1985 shows significant changes in the economy.

Ghana he said exemplifies a good and a bad economic management stating that the country has not done well in merging its politics in the management of the economy due to partisanship.

By: Christian Kpesese/ thePublisher

 

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