Ghana needs national consensus on economic crisis – ACET

The Executive Vice President of the African Center for Economic Transformation (ACET), Mavis Owusu Gyamfi has advised the government to consider a national dialogue to arrive at a consensus on the best way to address the current economic challenges.

Contributing to a panel discussion on Ghana’s Debt Restructuring programme organized by Citi TV/Citi FM in collaboration with ACEP and IMANI Africa, Mavis Owusu Gyamfi said a stakeholder engagement to achieve a common vision is the only way to go.

And that consensus can’t be between government and international bondholders.

According to Mavis Owusu Gyamfi, every Ghanaian is vulnerable to a dilapidated economy and the government has a responsibility to ensure citizens are protected, so they do not suffer unjustly.

Vice President of IMANI Africa, Bright Simons contributing to the discussion said Ghana’s economic situation may worsen if the government does not manage its debt restructuring effectively.

“Usually, if a country does not treat investors well, the two things that happen are that your cost of borrowing goes up because investors now assume that you are risky, so they charge more

“So if the government does not manage the debt restructuring effectively, it will worsen the situation next year and the year after.”