Former Minister of Finance and Economic Planning, Dr. Kwesi Botchwey, has advised current managers of the Ghanaian economy to be careful of demons that hover around public policy lapses and destroy fiscal consolidation.
According to him, these demons have for decades worked as hard as the builders. Lack of focus on economic growth, he says, gives the demons room to operate.
He was speaking to a packed audience in Accra at the launch of a 320-page book entitled, Africa in Search of Prosperity – Ishmael Yamson’s Essays on Development Economics, Business, Finance and Economic Growth. It was launched by Vice President Dr. Mahamudu Bawumia.
The book was edited by Ivor Agyeman-Duah – a visiting associate professor and director of the Wole Soyinka Foundation at the University of Johannesburg and Pof. Bill Buenar Puplampu, Vice Chancellor of Central University in Accra. It has two forewords from Lynda Baroness Chalker of Wallasey and former Minister for Africa, British and the Commonwealth Office and Doug Baillie, former President of Unilever Africa.
The collection of the thirty essays is mainly on economic and business development with two other sections on education and impact on development and faith and development.
Dr. Botchwey, who recounted the challenges he faced at his time in the 1980s managing the economy that was under recovery in the period of the Structural Adjustment Programme, had to, he explained, deal with inflation which was over 100 percent, national accounting that had not been done for three years and an exchange rate crisis. He however, said the country is on track.
The current Senior Minister and former Minister of Finance and Economic Planning under the Kufuor government, Yaw Osafo-Maafo, spoke of the current economic management team led by the vice president, Dr. Mahamdu Bawumia, and said they were thinking outside the box since with a debt to GDP ratio of over 70%, it had become difficult to borrow under the agreement with the IMF. He said lessons from the book – of which he was the launch reviewer – are apt to contemporary challenges, including the difficulty in accessing aid.
Yaw Osafo-Maafo said the book is of such public policy importance that consultation would be made with the leadership of parliament for adaptation as a manual to guide discussions in the house.
Source: Daily Guide
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Get with the program, bro! The reference to 'demons' should not be taken literally - it just means, be careful of not so obvious constraints, like bumps on the road that one is not expecting, catch the drift? That seems like very good advice from someone who has been there, seen it, done it....no need to denigrate people like that. One more thing, the moron, who coined the "drain the swamp" bungum, is floundering like someone who is out of depth, ever since, look what I found happened. Let's live them to stew in their own mess....and offer levelheaded advice to move Ghana forward.
Master, no politician in Ghana is honest. They are all the same. Chop , chop and ***barred word*** brigade. All they know is to drain the swamp from the public purse. They are no demons anywhere. The African superstition has led to the emergence of prophets, prophetess, fake pastor and you name it. The elites and non-elites have fallen prey to these pranksters hence lots of ***barred word*** from the public purse to pursue their desires. Ghanaian politicians only come out with solution after they are kicked out of office. JJ promised probity and accountability whist he turned a blind eye on NDC officials who were busily plundering the public purse including his wife and himself. This state of hypocrisy is what is killing Ghana. Say one and do something else. Akufo Addo is now MR. Promise-in-Chief with no action. No clue on how to solve the economic mess. Going round beaming with accomplishing his childhood dream of becoming a president whist the societal fabric continues to crumble. After providing jobs for his boys and girls club, non of these ministers and party apparaticks are delivering . They have all stalled in innovation. They are either busily stealing from the public purse or who knows what they are doing. The end result is poverty and underdevelopment. No way forward. They are all the same.
The corrupt NDC appointees still hiding in the civil and public services are the de.m.ons..... We must remove them
open letter to nana Addo, sir. since Ghana people voted for u, life have become difficult for the whole masses, ghana people voted for u because of ur honesty, but if u are honest and cant do the work, that is different, if u listen to people like KENNEDY AYEAPONG, KWABENA SEREBOUR AND CHAIRMAN WONTUMI, U WILL MAKE GHANA A HEAVEN, LIFE IS BAD FOR GHANA PEOPLE AND IF CARE IS NOT TAKEN THE MASSES WILL TAKE POWER IN THEIR HANDS DUE TO HUNGER ,AND POVERTY, LIFE IS A HOPELESS FOR GHANA PEOPLE, N,D,C UNDER MAHAMA HAVE DESTROYED THE COUNTRY AND GHANA PEOPLE THOUGHT U CAN SOLVE THE PROBLEMS BUT THINGS ARE BAD GETTING FROM WORSE TO WORST, , U DONT SEE IT COURSE, U HAVE UR BREAK FAST. LUNCH DINNER ASSURED, U EAT BETWEEN MEALS, THERE ARE 24 MILLION OF GHANA PEOPLE WIO DONT EAT DAY, PLEASE RELEASE MONIES NOW BEFORE THE MASSES TAKE POWER IN THEIR HANDS, I DONT WANT TO BELIEVE THAT GHANA IS PRACTICING THE ***barred word*** FARM OR N,P,P IS IN BED WITH N,D,C BUT SOME INTELLIGENT PEOPLE BELIEVE THAT, RELEASE 5 BILLION CEDIS NOW OR TODAY 9IN TO EVERY REGION FOR THE PEOPLE TO GET MONEY TO BUY FOOD, GHANA IS BAD, FROM GHANA PEOPLE,
The book is good to read