In dispassionately analysing Ghana’s economic landscape and prospects, it becomes evident that the 24-hour economy proposition by the former president, Mr. John Mahama is not a suitable remedy for our current challenges.
Sincerely speaking, a man who took over a rising economy from the late Prof Mills and ended up taking it to the IMF is certainly not the kind of leader we need to trust to manage a declining economy that is already under IMF control.
Truth be told, our current economic condition lacks the necessary capacity and structure to sustain such a bold shift. Let’s not kid ourselves. High national debt and energy sector challenges, coupled with weak macroeconomic milieu aren’t good conditions for a 24-hour economy.
To address the inadequacies in our private sector to make it competitive and profitable, Mr. Alan Kyerematen emphasizes the need for a thoughtful and comprehensive plan that would serve as a roadmap to guide us to achieve that objective.
High production costs and low profitability are critical issues facing businesses today. High-interest rates, inflation, exchange rates, and energy costs have made the private sector highly uncompetitive internally and externally.
In the GTP, Mr. Alan Kyerematen underscores the importance of creating a conducive macroeconomic environment and providing targeted financial support to foster sustainable private sector financing, production, foreign exchange earnings, growth, and job creation.
It’s crucial to note that the push for a 24-hour economy is not the pragmatic solution required at this juncture, albeit the idea, in and of itself, is good for an economy that is already doing well.
As we have indicated, our private sector is already grappling with challenges stemming from poor macroeconomic conditions and low demand for goods and services.
Our candidate has already challenged the viability of this approach in the context of the current state of the economy, urging a more strategic and market-driven stance.
In the pursuit of global competitiveness, our candidate envisions policies that support cost-effective expansion in the agricultural and industrial sectors of our economy.
Taking inspiration from our candidate’s comprehensive plan, which targets single-digit inflation, interest rates, and stable exchange rates, we believe his tactical approach would pave the way for a transformative economic landscape.
In contrast to what some may view as unrealistic promises, our candidate stands for a realistic and sustainable path for economic growth. We challenge other candidates to provide concrete plans that acknowledge the intricate details of our economic challenges.
We firmly believe that competent leadership, exemplified by figures like Alan Kyerematen, is paramount for guiding our nation towards economic transformation and prosperity.
Shalom shalom!
Ebo Buckman
M4C Communicator
