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An Economist Dr Paul Appiah-Konadu has admonished Ghana to develop the discipline to manage its economy responsibly without relying permanently on the International Monetary Fund (IMF). Magazines
Speaking on the Breakfast Today show on Dreamz FM, Dr Appiah-Konadu said Ghana’s recent economic stability must be used as a foundation to build a resilient economy capable of withstanding external shocks.
“we have achieved stability, but we need to do more in terms of expanding the economy to create jobs, add value to our raw material exports and to create a more resilient economy that will be insulated from external shocks,” he said.
Dr Appiah-Konadu compared Ghana’s relationship with the IMF to that of a young person who has become financially independent but remains afraid to take responsibility for personal expenses. Africans& Diaspora
He said Ghana must learn to maintain fiscal discipline even when the IMF is no longer directly supervising its economic policies.
He stressed that Ghana’s economic gains could be undermined if the country fails to address structural weaknesses and external shocks.
Dr Appiah-Konadu maintained that the ultimate goal should be an economy that can sustain fiscal discipline and economic growth regardless of whether the IMF is present or not.