President John Dramani Mahama has taken a significant step towards addressing Ghana's economic woes by establishing a seven-member National Economic Dialogue (NED) Planning Committee. This initiative, part of his 120-day Social Contract with Ghanaians, aims to foster collaboration and consensus-building to steer the nation towards sustainable economic growth.
The committee, operating under a tight four-week deadline, is tasked with organizing a high-level dialogue to address the country's pressing economic challenges. Headed by respected economist Dr. Ishmael Yamson, the committee comprises a diverse group of experts including Dr. K.Y. Amoako, Professor John Gatsi, Mohammed Samara, Nelly Mireku, Anthony Sarpong, and Ernest De-Graft Egyir. Their collective expertise will be crucial in navigating the complex issues facing the Ghanaian economy.
According to a statement released on January 26, 2025, by Felix Kwakye Ofosu, the President's Acting Spokesperson, the NED's primary objectives are multifaceted. It seeks to transparently communicate the true state of the Ghanaian economy to both citizens and stakeholders. Furthermore, the NED will serve as a crucial platform for open dialogue and consultation on critical development challenges, facilitating discussions on policy trade-offs and building consensus on necessary reforms. The ultimate goal is to transform Ghana into a high-growth, inclusive, and resilient economy.
Beyond facilitating dialogue, the committee's responsibilities include the development of a homegrown fiscal consolidation program to guide national budget planning. This program will be instrumental in achieving fiscal sustainability. The committee will also identify key structural reforms and policy priorities needed for a comprehensive economic reset.
The National Economic Dialogue represents a crucial step in confronting Ghana's multifaceted economic challenges. By bringing together leading experts and stakeholders, the initiative aims to foster a collaborative approach to achieving fiscal sustainability, structural transformation, and long-term economic resilience. The success of this dialogue will be pivotal in shaping Ghana's economic future.
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