President John Dramani Mahama has called on members of the newly inaugurated Presidential Advisory Group on the Economy (PAGE) to play a pivotal role in restoring Ghana’s economic credibility, fiscal discipline, and investor confidence.
Speaking at the inauguration of PAGE, the President acknowledged that Ghana is facing debt distress, stressing the urgent need for structural reforms.
“As a nation, we find ourselves again in debt distress after having previously declared HIPC and solemnly assuring ourselves that we will never return to such a position. That experience should have permanently altered our fiscal culture.
Unfortunately, instead, we dissipated significant buffers and stabilizers that would have shielded our citizens from the painful domestic debt haircuts that they ultimately had to endure,” he said.
President Mahama highlighted factors that have hindered Ghana’s economic competitiveness, including declining crude oil production due to policy inconsistency and investor uncertainty, governance challenges, and political interference in state-owned enterprises.
He also cited funding difficulties faced by COCOBOD as lessons to guide future policy.
“These are not points of blame; they are lessons in responsibility,” he emphasized, urging PAGE members to lead efforts to attract investment and restore Ghana as a predictable, competitive economy.
“This is not simply about recovery. It is about institutional reform, structural transformation and a permanent reset of our economic governance culture,” he said.
Source: Starrfm
