An Economist, Dr Priscilla Twumasi Baffour, says the quest to reform the structure of Ghana’s economy has been challenged by politicians’ resort to pursuing approaches that only yield short-term benefits.
This, she said is fueled by the lack of political will and the fact that the government is always looking forward to the next election.
According to her, it is not as though the government does not know what to do.
“So the issue is that it’s not like we don’t know what to do in this country. We know what to do but basically, it boils down mostly to the lack of political will most at times, and the fact that essentially, these structural reforms require a lot more time than a political cycle. So you see, the challenge we face is that we turn to try quick fixes, short-term results to show that the government has done something.
“I can understand the position politicians are in because they are looking at the next election,” she said on Newsfile on Saturday.
Dr. Baffour has advised that in the wake of the country’s International Monetary Fund (IMF) programme, the government should put political ambitions aside and focus on the “bigger picture.”
She said government should focus on investing in the right areas of the economy including; “issues of energy, issues of access to credit, and issues of skilled labour.”
This, she said will in effect equip firms to be productive and produce domestically as well as reduce the country’s level of import dependence.
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