Former President John Dramani Mahama has advised President Nana Akufo-Addo to look for help outside his government to tackle the economic challenges confronting the country. In a Facebook, Mr. Mahama who is also the Presidential Candidate of the National Democratic Congress (NDC) said the government should consider a consultative process that will help the country with its forward march.
See the full text from the Facebook Post below:
There is a much hackneyed saying, “two heads are better than one”.
There are times when a leader or a party must admit that they do not have all the answers to the challenges facing the economy or a particular sector. At such times, it does not take away from your dignity, but adds to your credibility, when you create a consultative process that forges a consensus and allows a nation to move forward.
I faced one such decision point as President in 2014. The 3-day Senchi Economic Forum was held in May 2014. It was a broad consultative process and even though it was boycotted by the opposition NPP, it achieved its objective of producing the famous Senchi Report which contributed to the Homegrown Fiscal Consolidation Programme. This Homegrown Fiscal Programme led eventually to the ECF with the International Monetary Fund (IMF) and resulted in one of the most stable periods in Ghana’s economic history in 2016, with the cedi being one of the best performing African currencies.
This administration is probably at such a decision point. The recent free fall of the cedi against all major foreign currencies, may be exposing a deeper malaise in the “fundamentals of the economy”. It may serve Akufo-Addo/Bawumia and their economic team well to own up to their shortcomings and call a Senchi type stakeholder forum on the economy.