‘We Political Parties without representation in Parliament, PPOP, would also wish to state that an atmosphere rife with real or perceived corruption does not augur well for citizens trust and this diminishes leadership moral integrity. As part of confidence building mechanism in our body politic government should apply adequate constitutional prescriptions for participation of the people in governance. It is surely the practical way to effect positive mindsets of the people for national development and productivity in a state of mixed economy’.
This was the direct response to ‘sika mpe dede’ comment made b to the nation president Akufo Addo when he addressed the nation of the economy recently. The media briefing was to respond to the president after analyzing his full address, and which has attracted varied comments and interpretation from the public. Though PPOP recognized the global economic downturn it believed the case of Ghana would have been different in positive term if there were effective and judicious governance practice in place.
Read the full statement.
Without any doubt the global economy has barely crept out of the effects of Covid-19 pandemic just for it to plunge into another catastrophe of Russia-Ukraine conflict with very widespread economic and geopolitical consequences.
Never before in living memory have nations, great and small, been exposed to dire vulnerabilities as being experienced presently in our very eyes and Ghana is no exception.
We Political Parties Outside Parliament (PPOP) meeting to brainstorm on the unfolding global situation, in particular reference to the address to the Nation by the President on Ghana’s economic crisis here present our review and candid opinions on the measures envisaged to mitigate the grueling economic hardships on the nation.
It must be noted that for all intents and purposes the “economic” pandemic (if it should be so described) will be a clear confirmation that hands-on leadership of self-reliance determines the resilience and success of the Political economy rather than a rudderless laiser faire of economic disorder.
On the basis of above we Political Parties Outside Parliament wish to view the purpose and measures proposed in the President’s address in three categories;
- Hands-on leadership for economic self-reliance.
- Fiscal and monetary policy management.
- Infrastructure and Social intervention.
Never before has the matrix of economic fundamentals of self-reliance been so clear as the cedi crumbles under the weight of the dollar. We agree with Vice President Mahamudu Bawumia when he postulated that when the fundamentals are weak the exchange rate will expose you as a truism.
It is therefore appropriate in a hands-on leadership to address the fundamentals of self-reliance in a more visible diversification of the structure of the Ghanaian economy from import based to value added exporting one.
It is long overdue for a review of the standards required for imports into the country.
Why must we crave for cooking oil from Ukraine when we can produce our own frytol locally?
We therefore agree with the President to prioritize imports as well as review management of our forex in relation to products such as rice, poultry, vegetable oil, toothpicks, pasta, fruit juice, bottle water, etc., in favour of local production.
If we had done so by hands-on leadership why should effects of Russia Ukraine conflict emasculate Ghana’s economy?
We PPOP will not dispute the need for government to engage on a framework of Post Covid-19 Pandemic Programme for Economic Growth and IMF Support.
The present fiscal and monetary Policy challenges to the casual observer exposes the government’s weak and relaxed hands-on management giving rise to all kind of political speculations and discourse.
We are already helpless from real or perceived mismanagement by which debt sustainability, reduced debt to GDP ratio, servicing of external debt, improvement of Tax revenue to GDP ratio cannot be avoided.
In all circumstances measures to stabilize fiscal and monetary policies will arise when our primary production for local consumption is far outstripped by imports. However, it is telling us the fundamentals have not been right for envisaged positive results, taking us back again to appropriate hands-on leadership and management.
The question then will be who watches the watchman in such circumstances? The answer is obvious; pervasive people’s participation in all facets of the economy.
We are aware of massive social intervention during the height of Covid-19 pandemic management by the Government.
That was appropriate at the time when forex and resources had not dried out as presently.
Indeed, the present economic crisis of cedi crumbling so fast in value may pose social conditions worse than during the peak of Covid-19 pandemic.
We may not need the World Health Organization to include the economic crisis in its pandemic list, but it is a reality and the government should include it as requirement for National Distress Mitigation for the populace.
The President may have said rightly that “l’argent n’aime pas le bruit’; sika mpe dede.
We PPOP would also wish to state that an atmosphere rife with real or perceived corruption does not augur well for citizens trust and this diminishes leadership moral integrity. As part of confidence building mechanism in our body politic government should apply adequate constitutional prescriptions for participation of the people in governance. It is surely the practical way to effect positive mindsets of the people for national development and productivity in a state of mixed economy.
The Trade Union Congress and Organized Labour should be part of a programme to eliminate financial infractions by MDAs as contained in the Auditor General’s reports year in year out.
This could stem frequent financial misapplications and obvious wastage of resources.
We expect Gov’t to continue with critical infrastructure where possible in Education, Health, etc. within measured budgetary expenditure reduction requirements.
Let’s us commend His Excellency the President for his candid admission
That: (quote) “For us in Ghana our reality is that our Economy is in great difficulty.
We are in a crisis I do not exaggerate when I say so” (Unquote).
In the same vein we PPOP are convinced that there can be a quick positive turn around when adequate hands-on leadership and management are applied to every measure outlined for improvement of our forex in particular and also to stabilize fiscal/monetary policy management.
Yes, all hands-on deck for the rescue of Ghana’s economy, whole and safe.
GOD BLESS OUR HOMELAND GHANA AND MAKE US GREAT AND STRONG
By Peter Quao Adattor
