Dr. John Kwakye, Director of Research at the Institute of Economic Affairs (IEA), has expressed support for President John Dramani Mahama’s newly established seven-member National Economic Dialogue (NED) Planning Committee, chaired by Dr. Ishmael Yamson. Dr. Kwakye believes that the economic dialogue will play a crucial role in steering Ghana’s economy away from the recurring debt crises and dependence on International Monetary Fund (IMF) bailouts.
“The planned National Economic Dialogue is an important initiative by President Mahama. It will allow a broad consensus on the way forward for the Ghanaian economy towards avoiding the periodic crises and positioning the country beyond debt and IMF bailouts,” Dr. Kwakye said on X.
The members of the NED Planning Committee include Dr. K.Y. Amoako, Professor John Gatsi, Mohammed Samara, Nelly Mireku, Anthony Sarpong, and Ernest De-Graft Egyir.
In a statement issued on Sunday, January 26, 2025, Felix Kwakye Ofosu, Acting Spokesperson to the President, announced the formation of the committee. The NED is designed to offer a platform for dialogue on Ghana’s pressing development challenges, explore policy trade-offs, and build consensus on reforms necessary to transform the country into a high-growth, inclusive, and resilient economy.
The government aims for the National Economic Dialogue to achieve three key objectives: communicating the true state of Ghana’s economy, developing a homegrown fiscal consolidation program, and highlighting the key structural reforms needed to reset the economy. The committee is tasked with submitting a detailed report within four weeks, including a comprehensive agenda, coordination of speakers and panellists, logistics management, session facilitation, and a communications plan.
However, not everyone is on board with the dialogue. Kojo Oppong Nkrumah, the lawmaker for Ofoase Ayirebi, raised concerns that the economic dialogue might be used as a cover for the new administration to backtrack on key promises made during the election campaign.
In a Facebook post, Oppong Nkrumah warned that if President Mahama reneges on promises made to the youth, it could severely damage faith in Ghana’s democracy. He highlighted the risk of repeating past mistakes, such as those made during the 2014 Senchi Consensus and 2017/2018 National Policy Summits, where many recommendations were ultimately abandoned.
While he acknowledged that dialogue of this nature is good for democracy, he cautioned that the new administration must avoid the “Politics of Promise-Win-and-Switch” and ensure that the ideas generated from this forum are feasible and lead to real economic recovery. “We will keep an eye on this dialogue, critique its shortcomings, and ensure that lessons from the past are not ignored,” he said.
The outcome of the 2025 dialogue remains uncertain, but it’s clear that all eyes are on the government as it navigates the complex task of addressing the country’s economic challenges while keeping its promises to the people.
Source:TheDotNews