What aspects of the economy needs reset or upgrade? - This is what Prof. Smart Sarpong has to say

Prof. Smart Sarpong has backed former President John Dramani Mahama’s call for a reset of Ghana’s economy.

The former president, delivering a speech at his manifesto launch, stressed the need for Ghana to be reset, but his main opponent of the New Patriotic Party, Dr. Mahamudu Bawumia, says the country rather needs an upgrade.

“Tomorrow, we take the first step towards resetting our dear nation Ghana. We face challenges that have held us back for too long, but now it’s time to build the Ghana we all want together…Tomorrow, we begin the journey together,” Mr Mahama, presidential candidate of the National Democratic Congress, told his party members and supporters.

Vice President Dr. Mahamudu Bawumia, in a media engagement, replied: “What this country needs is an upgrade, not a reset. And if given the mandate, I will roll out the measures outlined in our recently launched manifesto to revamp the economy,” adding, “I represent the future, and Ghana needs an upgrade, not a reset.”

Commenting on these two conflicting statements, the Senior Research Fellow and Lecturer at the Kumasi Technical University (KsTU), Prof. Smart Sarpong, argued that Ghana’s economy has over the years been destabilised, therefore he prefers the country to undergo a reset.

The Senior Researcher, on Peace FM’s “Kokrokoo” show, said: “I’m sure when it comes to the economy, everyone will agree that it needs a reset and it’s needed a reset not today. Ghana’s economy has never been stable.”

He continued: “In fact, we’re so volatile a country and it is not because of the dependence on foreign currency but we’ve become so volatile the little thing that shakes has an effect on us.”

Professor Smart Sarpong, however, highlighted some other key aspects of the economy which he believes need an upgrade.

“It is not everything that needs a reset, and it is not everything that needs an upgrade. So the debate going on should be defined clearly. According to the former President and flagbearer of the NDC, John Dramani Mahama, the Agenda 111 project, an initiative of the NPP government, is a good project, so he coming to continue such a project if he becomes President is an upgrade and not a reset.

“There are things that are not going well in the country which do not need an upgrade but a reset. For instance, the way we do our trade in the country needs a reset. Ghana has become an import-dependent economy which is very bad, hence the need to reset that sector to make it an export-driven economy. We have a big problem as a people with sustainable agriculture. If as a people, we can reset the way we do our agriculture, then it will be a very good thing for us. So we need to have a critical look at that as well.”

Watch his remarks below: