By Deborah Pofara Luu
As Ghana prepares for the National Economic Dialogue on March 3-4, financial analyst Dr. Richmond Atuahene calls for a focused discussion on debt management, strategic indigenization, and agriculture.
He emphasized the need for practical solutions to reduce debt, boost local businesses, and enhance food security.
“Our incessant appetite for borrowing must cease, and we must discover ingenious ways of making the economy stable for a long time,” Dr. Atuahene urged.
Ghana’s debt levels currently stand at 72.2% of GDP, posing a significant threat to economic stability. Dr. Atuahene highlighted the importance of repositioning the economy to meet debt obligations, citing the country’s repeated reliance on IMF assistance.
He also suggested that Ghana could learn from Nigeria’s approach to indigenizing critical sectors like banking, mining, and oil & gas to reduce foreign dominance.
Dr. Atuahene stressed the need to transform the agricultural sector to curb food inflation and reduce reliance on imports.
He proposed supporting key sectors such as cocoa, maize, poultry, and rice production. “Ghana’s agricultural sector has the potential to drive economic growth but requires strategic investment and support,” he noted.
The National Economic Dialogue, themed “Resetting Ghana: Building the Economy We Want Together,” aims to bring experts together to brainstorm solutions for Ghana’s economic challenges.
With high inflation rates and a depreciated cedi, the dialogue’s success is crucial for Ghana’s economic recovery.
Dr. Atuahene warned that previous dialogues have not yielded positive results, making it essential for this event to produce tangible outcomes.
