Ghanaian President John Dramani Mahama opened the national economic dialogue on Monday as the country navigates its path through reforms backed by the International Monetary Fund (IMF) to restore macroeconomic stability, exchange rate stability, growth, and job creation.
The two-day dialogue, which ends this Tuesday, brought together government officials, business leaders, development partners, labor unions, and other actors to collect and collate ideas for redefining the future of the country’s economy.
Addressing the participants, Mahama said the meeting is an important one that seeks solutions to Ghana’s recurrent economic challenges.
He said the meeting would formulate strategies that would put the country back on a sustainable path of growth, “to ensure that we build an economy that works for every Ghanaian.”
Mahama added that the decisions made at the dialogue session would determine the future of Ghana’s economy, steering it towards resilience, prosperity, and inclusivity.
“We are gathered here to reclaim our country’s economic strength to make us a beacon of progress on the African continent: not only a beacon of democracy, but a beacon of economic prosperity,” he stated.
The president stressed the importance of governance reforms to improve transparency and accountability, urging collective responsibility in rebuilding the economy.
According to him, “The mistakes of the past must not define our future, and I vow to do everything in my power to steer this nation towards a brighter and more prosperous future.”
Mahama called for proposals on structural reforms that will address the needs of the private sector to make it the real engine of growth to create jobs for the sprawling youthful population.
We also need to enhance our economic governance to ensure the equitable distribution of economic benefits across all segments of society, said Mahama.
“I know the road to economic recovery will be challenging, but we must not relent in our desire to rebuild the Ghana we all want. I am committed to ensuring that the lessons learned from this dialogue session will shift the decisions we make in the years ahead,” added the president.
Under the theme, “Resetting Ghana: Building the Economy We Want Together,” the dialogue offers a platform for the various actors in the economy to contribute insights into critical issues that have bedeviled the once-promising economy.
The West African exporter of cocoa, gold, and crude oil has been implementing economic reforms since May 2023, backed by a 3-billion-dollar loan from the IMF to tackle multiple protracted economic challenges, including currency depreciation, high inflation, and ballooning public sector debts.