Food inflation never responded – Dr Yamson says Ghana must stop throwing money at short-term fixes

Economist Dr Ishmael Yamson, Board Chairman of MTN Ghana, has called for an end to short-term economic fixes in Ghana and urged the country to create long-term stability structures. Dr Yamson stated that previous governments have focused on short-term stabilisation, but failed to build the necessary pillars for long-term sustainability.

He noted that the current economic gains differ from past instances, but praised the government's achievements in the first 18 months of its administration. However, Dr Yamson insisted that sustainability must be viewed differently from short-term stability. He cited Ghana's food production efforts, specifically the Planting for Food and Jobs initiative, as an example of short-term interventions that did not address the root cause of food inflation.

Dr Yamson proposed investing in long-term solutions, such as expanding oil palm plantations, to tackle structural issues. He also mentioned the Gold for Reserves programme as a potential long-term economic stability measure, though he acknowledged its associated risks. To achieve long-term economic resilience, Dr Yamson emphasized the need for investors to have confidence in Ghana's ability to maintain stability for at least a decade.

He stressed that serious investors make decisions based on long-term horizons, and urged Ghana to create this mindset to ensure lasting economic stability.