‘Ghana Beyond Aid’ not achievable under Akufo-Addo – Prof. Lord Mensah

Dr Lord Mensah UGBS121212.png Professor Lord Mensah, Economist

Wed, 9 Mar 2022 Source: www.ghanaweb.com

Ghana cannot thrive without foreign aid

Ghana Beyond Aid is a long-term project

‘Ghana Beyond Aid’ to enable import substitution, especially food, Prez Akufo-Addo

Associate Professor at the Finance Department at the University of Ghana Business School (UGBS), Professor Lord Mensah, says the Ghana beyond aid agenda is not achievable under the country’s current administration.

Speaking in an interview on the Pulse on Tuesday, March 8, he explained that the country will find it tough to do without external aid, looking at the various economic indicators.

He argues that the agenda should be adopted as a long-term project devoid of political regimes.

“Ghana Beyond Aid, I’ve been saying that is a project. We don’t have to look at it within a particular regime. Ghana as a country must look at this as a project which in the next 20 years, we can work towards it. But looking at where we find ourselves now, I don’t think, Ghana Beyond Aid is possible."

“Because as we speak now, any free money that drops in the way of Ghana, we will take it. So, I’ll say that yes, it’s not possible within this particular time or this regime, but then we should take it as a project,” he said.

The Ghana Beyond Aid agenda which became the President slogan in 2018 was a means for Ghana to become self-reliant and produce as much for herself.

However, this has become unattainable as the country’s debt stock keeps increasing over the years.

A Charter and Strategy Document, launched by the President, Akufo-Addo stated, “The document also acknowledges that a responsive policy environment is required so that as we change our attitudes and values, we will not have to be confronted with the same old hurdles which inhibit our growth and development."

He, "That is why I welcome the commitment to reform and sustain a robust macroeconomic environment, increase government domestic resource mobilization and pursue strategic investments which among others, will enable import substitution, especially food, clothing and construction materials, within the shortest possible time."

He reiterated that values, mindset, attitudes and behavior changes "which I am calling for will complement the policy changes and reforms which are being rolled out. The two will be mutually reinforcing as we march boldly and confidently to Ghana Beyond Aid.”

Source: www.ghanaweb.com
Related Articles: