General News Thu, 14 Mar 2019

John Mahama’s Facebook letter to government on Ghana’s economy

Former President, John Dramani Mahama has urged the Akufo-Addo-led government to admit they do not have all the answers to the challenges facing the economy so that they can seek help in managing same.

Mr Mahama who stated this in a Facebook Post on Thursday, March 14, 2019, revealed he faced one such decision as President in 2014 which led him to organise the popular Senchi Economic Forum.

“There is a much-hackneyed saying, “two heads are better than one” and 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,’ the former president wrote.

“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,” he added.

Mr Mahama acknowledged that even though the NPP was not in support of the Senchi Forum, it was able to achieve the purpose for which it was organized.

“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,” he noted.

“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,” he noted.

Below is his Facebook post

Source: adomonline.com