Dr. Mohammed Amin Adam praised Ghana’s swift economic recovery and urged the new government to maintain this progress instead of reversing it for political reasons. He pointed out that the recovery has been influenced by external factors, and noted that the economy demonstrated greater resilience than expected, with growth data supporting this outlook.
Dr. Mohammed Amin Adam, the former Finance Minister of Ghana, emphasized on Joy News’ PM Express that the country’s economic recovery has exceeded expectations and called on the current government to preserve these gains instead of reversing progress due to political motives. He acknowledged that, despite prevailing global economic challenges, Ghana’s recovery has been noteworthy, highlighting how most nations faced similar difficulties amidst elections, leading to political changes globally.
Dr. Adam pointed out that the economic struggles were largely a result of external factors and not solely due to domestic mismanagement. He referred to data from 2022 to 2024, illustrating how Ghana’s economic turnaround was faster than projections made by global financial institutions such as the World Bank and IMF, as well as local analysts.
He stated, “If you look at the data from 2022 to 2023 and then 2024, you will see that the turnaround was quick. The recovery was faster than even anticipated by the World Bank, IMF, and many economic analysts, even in Ghana.” Dr. Adam stressed the importance of maintaining macroeconomic stability to ensure continuous growth, noting that, despite the debt restructuring, Ghana recorded impressive growth rates.
Highlighting the need for stability, he said, “We were getting stability, macro stability, which is a condition for economic growth.” He warned that political shifts, if not managed carefully, could reverse hard-earned economic progress. He urged the new administration to focus on stabilizing and enhancing the economy for the benefit of the people.
Dr. Adam cautioned against political interference that might disrupt the recovery process, urging leaders to prioritize economic stability over typical political agendas, as seen in previous administrations. His message was clear: sustaining economic improvements should be a primary focus to alleviate public hardship.
Ghana has recently experienced a notable economic recovery faster than anticipated following significant global economic challenges. The transition in government adds a layer of urgency to ensure these gains are not lost due to political maneuvering. Understanding the economic context, including external factors contributing to previous difficulties, is essential to grasp the significance of Dr. Amin Adam’s statements regarding policies for sustained growth.
Dr. Amin Adam emphasizes the importance of sustaining Ghana’s quicker-than-expected economic recovery, underlining its resilience amidst external influences. His insights advocate for prioritizing economic stability over political motivations, highlighting the potential risks of reversing progress. The focus on maintaining gains is paramount to delivering tangible benefits to the populace, ensuring effective governance in the wake of a new administration.
Original Source: www.myjoyonline.com
