Economist and Finance lecturer at the University of Ghana Business School, Professor Lord Mensah, has emphasized the need for the effective implementation of the outcomes of the upcoming National Economic Dialogue to restore the country’s struggling economy.
The dialogue, scheduled to begin on March 3, 2025, is expected to address Ghana’s economic challenges and shape policies aimed at recovery. President John Dramani Mahama, in his maiden State of the Nation Address, outlined the severity of the economic crisis, revealing that public debt has reached GH¢721 billion.
According to President Mahama, the National Economic Dialogue will serve as a platform to assess the state of the economy and build consensus on key policies to address the crisis. The discussions will also contribute to the development of a home-grown fiscal consolidation programme and identify structural reforms necessary for long-term economic stability and prosperity.
Professor Lord Mensah stressed that prudent fiscal management, particularly in the post-IMF era, should be a key focus of the discussions.
“The question is, as we are going to hold a dialogue, we should be able to center this discussion on how we are going to manage our finances without the IMF and be disciplined. That should be discussed thoroughly at the dialogue,” he stated.
With the government seeking to reset the economy and chart a path toward stability, the implementation of the dialogue’s recommendations will be crucial in shaping Ghana’s financial future.