There is something different this time – Dr Yamson hails Mahama govt’s economic management
Economist and Board Chairman of MTN Ghana, Dr Ishmael Yamson, says there is something different about the way Ghana’s economy is being managed under the current government.
Dr Ishmael Yamson, the economist and Board Chairman of MTN Ghana, has expressed that there is something distinct about the manner in which Ghana's economy is being managed under the present government's administration. He attributes this to the emphasis on creating resilience to maintain economic stability over the long term. Dr Yamson made these observations during his appearance on Joy News’ PM Express.
Investors, however, continue to be doubtful about Ghana's economic trajectory due to the country's past history of boom and bust cycles. Yamson acknowledges this skepticism, noting that investors are aware of the nation's past experiences. Despite this, he expresses optimism about the current economic path, asserting that it appears different and sustainable.
The Ghanaian economist lauded the government's economic management, specifically its achievements within the first 18 months of governance. He described the improvement in economic stability as dramatic and worthy of commendation. Dr Yamson recognized the role of the IMF programme and debt restructuring, but emphasized the need for the government to build structures that can preserve these gains for sustainability.
The real test, according to Dr Yamson, is whether the government can develop the necessary structures to maintain the gains over time. He highlighted the Gold for Reserves program as an initiative that could contribute to building resilience, though he acknowledged the program's risks.
The economist also pointed to agriculture as an area where long-term investment could address structural issues. He pointed out that food has been a major driver of inflation, despite previous interventions. Yamson proposed investing in 250,000 hectares for oil palm production, which he believes could address food inflation more fundamentally by resolving a fundamental issue on a long-term basis.
For Dr Yamson, Ghana must shift its focus from policies aimed at delivering short-term stability to creating confidence among serious investors. He emphasized the importance of demonstrating the ability to maintain stability for a minimum of 10 years, rather than merely addressing the concerns of specific electoral cycles.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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