President of IMANI Africa, Franklin Cudjoe, says the second coming of President John Mahama has started on a “phenomenal” note, but warns that the early gains remain fragile and could easily unravel if questions of sustainability are not addressed.
Speaking on Joy News’ PM Express on Wednesday, Mr Cudjoe said recent economic indicators suggest a strong start for the new administration, driven largely by discipline and what he described as guided leadership at the centre of government.
“I think the second coming of John Mahama has been phenomenal. I have been looking at the data clearly, and I was wondering, how did you get here?” he said.
He attributed the early goodwill to what he called firm control over public spending and a clear signal from the Finance Minister, Dr Cassiel Ato Forson, that government would not spend recklessly.
“If I look at the fact that the finance minister suggested to us, I just started out saying that, look, I’m not going to toe a particular line where I’ve just been spending money without the corresponding value in return, it makes you feel comfortable that your money is in safe hands, that the purse will be protected,” he said.
Mr Cudjoe said the tone set by the Finance Minister through the budget has shaped government actions since then.
“I said conversation because he presented his plans or the government’s plans through a budget. And since then, we’ve seen almost every decision that has been made is somehow related to the fact that there must be fiscal medicine,” he noted.
He argued that discipline, rather than political messaging, has been the key driver of public confidence.
“The word discipline is very important. You are not disciplined. You just be a spendthrift and not realise you are wasting money,” he said.
Franklin Cudjoe also acknowledged that some policy decisions taken under the previous NPP administration helped create the current conditions.
“I think the NPP, some of the investments they made, somehow, in terms of the decisions around the debt restructuring and all that, also sort of help,” he said.
Still, he said, credit must largely go to the current team assembled by the NDC.
“We should give credit to the fact that the pair of hands that the NDC has put together, from the presidency to Dr Ato Forson, gives you a certain sense that things are being organised properly,” he said.
Despite the optimism, the IMANI President warned that the bigger challenge lies ahead.
“For me, look, I seriously think this part is good. The problem is about sustainability,” he cautioned.
He stressed that Ghana’s recent gains remain vulnerable because of the economy’s heavy exposure to commodities.
“Sustainability is very important when you are dealing with commodities. If the commodity boom obviously recedes, then clearly you’re going to be in trouble,” he warned.
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