President John Dramani Mahama has called for a National Economic Dialogue as part of a comprehensive effort to address Ghana’s economic challenges. During his State of the Nation Address to Parliament, Mahama emphasized the need for collective action to stabilize the economy, reduce public debt, and set the country on a path toward sustainable growth.
A National Call to Action
In his address, President Mahama highlighted the gravity of Ghana’s current economic crisis, including an unsustainable GHS 721 billion debt, high inflation, and a depreciating cedi. He stressed that the crisis requires urgent, coordinated action from all sectors of society.
“We cannot address these challenges in isolation,” Mahama said. “The road to recovery requires a broad and inclusive dialogue that brings together policymakers, business leaders, civil society, and ordinary Ghanaians.”
The Role of the National Economic Dialogue
The National Economic Dialogue will be a key platform for identifying practical, homegrown solutions to Ghana’s fiscal problems. Mahama revealed that the dialogue would involve economists, industry experts, and representatives from various sectors of society. The goal is to craft a fiscal consolidation plan that focuses on long-term stability while addressing immediate concerns, such as inflation and debt management.
“We need all hands on deck to develop a clear, unified plan,” the President stated. “We must make difficult decisions, but we must also be united in our vision for a prosperous future.”
Key Areas of Focus
The dialogue will cover a wide range of issues, including revenue generation, fiscal discipline, reducing public debt, and implementing structural reforms in key sectors such as energy, agriculture, and education.
Mahama also mentioned that special attention would be given to the country’s debt restructuring process, which will involve negotiating favorable terms with international creditors to ease the burden on the nation’s finances.
Government’s Commitment to Action
Mahama assured Ghanaians that his administration is committed to implementing the outcomes of the National Economic Dialogue, no matter how challenging.
“We are committed to fiscal responsibility and sustainable economic management. The dialogue will provide the roadmap, and we will put the solutions into action,” he emphasized.
A Call for Unity and Collective Responsibility
As the nation grapples with its economic crisis, President Mahama concluded by calling for unity and patience as Ghana works through the challenges ahead. He encouraged Ghanaians to remain hopeful and to actively participate in the national discourse to help create solutions that benefit everyone.
“Together, we can overcome this crisis. This is a challenge for all of us, and it requires the collective effort of every citizen to ensure that we build a better future for the generations to come,” he said.
The National Economic Dialogue is expected to kick off in the coming weeks, with the results shaping the government’s policy approach in the months to come. The nation now looks to this inclusive platform for hope and direction in navigating Ghana’s toughest economic period in recent history.
