An economic analyst, has stated that securing a deal with the International Monetary Fund might not be the best solution to tackle the structural challenges confronting the nation.
Instead, Mr. Enoch Okomfo Okonah underlined the need for government to prioritise import substitution, saying that remained the surest and realistic intervention to address the country’s fiscal challenges to stabilise the economy.
Speaking in an interview with the Ghana News Agency (GNA) in Sunyani, Mr Okonah, the Chief Executive Officer of DUMAT Africa, a policy think-tank said, “that notwithstanding our deal with the IMF may be protracted due to initial resistance from the labour unions”.
This could delay the final approval by the Executive Board of the IMF, a situation which could have dire consequences on the nation, and subsequently dwindle investor confidence too.
DUMAT Africa focuses on economic policy, governance, labour, and related issues.
Mr. Okonah indicated the nation’s economic challenges required a collective and concerted approach to tackle and called for divergent views from the business community, academia, and government critics.
Latest Stories
-
‘We are sorry but we need to stay calm’ – Andre Ayew on Black Stars recent form
45 seconds -
Election 2024: Bawumia dares Mahama to two-man debate
7 mins -
Bawumia is a man of integrity and discipline unlike Mahama – Miracles Aboagye
11 mins -
Ejisu by-election: NDC is sponsoring Aduomi; don’t vote for him – Bawumia to NPP supporters
15 mins -
Freedom of speech must engender development
18 mins -
Ghana Hajj Board announces flight schedules for 2024 pilgrimage
24 mins -
T-bills: Interest rates increased for first time since January 1; government fails to meet target
2 hours -
Ghana retains 10th position with lowest fuel price in Africa
2 hours -
Mahama cuts sod for new Jakpa palace in Damongo
3 hours -
Will Ghana’s democracy stand the test of time in the 2024 elections?
5 hours -
Hindsight: Dreams fairytale run proved one thing; it is possible
6 hours -
God makes rulers, not you; you can’t choose your successor – Mahama to Akufo-Addo
7 hours -
Contributors own SSNIT, they must decide who becomes its Director-General – Austin Gamey
8 hours -
Move away from theory-based learning towards practical learning approaches – AUCC President to students
8 hours -
Haaland scores as Manchester City beat Nottingham Forest
9 hours