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In
a
landmark
move
to
foster
collaboration
between
policymakers
and
academia,
the
Finance
Ministry
in
collaboration
with
the
University
of
Ghana,
convened
a
Quarterly
Economic
Roundtable
at
the
University
of
Ghana.
The
event,
aimed
at
addressing
the
country’s
economic
challenges,
and
bridging
the
gap
between
policy
makers
and
academia
brought
together
top
government
officials,
economists,
and
industry
experts.
Madam
Abena
Osei-Asare,
Minister
of
State,
and
Member
of
Parliament
for
Atiwa
East,
set
the
tone
for
the
discussions,
emphasizing
the
importance
of
partnership
in
guiding
Ghana’s
economic
path.
“We
genuinely
believe
in
the
power
of
this
partnership
to
guide
our
economic
path,”
she
stated,
adding
that
the
best
policy
positions
emerge
when
government,
academia,
and
industry
work
together.
The
inaugural
roundtable
focused
on
critical
areas
including
fiscal
operations,
debt
dynamics,
and
monetary
policy
coordination.
She
urged
participants
to
deliberate
with
a
strategic
focus
on
actionable
recommendations
to
drive
economic
development
in
both
the
short
and
long
term.
Hon
Osei-Asare
reiterated
the
government’s
commitment
to
fostering
ongoing
dialogue
with
academia
and
industry.
“This
platform
has
to
play
its
significant
role
as
the
economy
continues
its
upward
swing,”
she
stated,
underlining
the
importance
of
sustained
collaboration.
Dr
Nii
Kwaku
Sowa,
Country
Director
for
the
International
Growth
Centre
(IGC-Ghana),
in
a
keynote
address
highlighted
the
persistent
challenges
facing
Ghana’s
economy.
“The
past
couple
of
years
have
seen
a
boost
in
macro
indices,
but
some
warming
trends
are
headed
in
undesirable
directions,”
he
noted.
Dr.
Sowa
pointed
out
issues
such
as
ballooning
budget
deficits,
a
huge
debt
overhang,
and
persistent
double-digit
inflation.
Addressing
the
complex
nature
of
macroeconomic
management,
Dr.
Sowa
cautioned
against
oversimplified
solutions.
“Macroeconomic
management
presents
one
of
the
most
odious
tasks
for
the
policymaker,”
he
stated,
emphasizing
the
need
for
nuanced
approaches
that
consider
both
academic
theories
and
practical
realities.
Prof.
William
Baah-Boateng,
Head
of
the
Department
of
Economics
at
the
University
of
Ghana,
focused
on
fiscal
operations.
He
advocated
for
prudent
expenditure
management,
saying,
“We
need
to
take
a
very
good
look
at
the
expenditure
side
of
the
budget.”
Prof.
Baah-Boateng
suggested
reducing
the
weight
of
government
on
the
economy
and
reevaluating
the
role
of
politics
in
economic
decisions.
On
the
topic
of
debt
dynamics,
Prof.
Peter
Quartey,
Director
of
the
Institute
of
Statistical,
Social
and
Economic
Research
(ISSER),
provided
insights
into
Ghana’s
borrowing
patterns.
He
highlighted
the
shift
from
multilateral
debts
to
commercial
market
borrowing
at
higher
interest
rates.
“We
want
to
break
from
the
vicious
cycle
of
debt
accumulation
and
then
negotiation,
forgiveness,
and
then
we
go
back
again
to
debt
accumulation,”
Prof.
Quartey
emphasized.
The
roundtable
also
addressed
monetary
policy
dynamics,
with
Professor
Agyapomaa
Gyeke-Dako
of
the
University
of
Ghana
Business
School
discussing
the
challenges
faced
by
Ghana’s
Central
Bank.
She
raised
critical
questions
about
the
effectiveness
of
current
monetary
policy
approaches
and
the
trade-offs
involved
in
managing
inflation
and
supporting
economic
growth.
The
discussions
revealed
a
consensus
on
the
need
for
a
more
collaborative
approach
to
economic
management.
Participants
agreed
that
addressing
Ghana’s
economic
challenges
requires
a
combination
of
fiscal
discipline,
innovative
debt
management
strategies,
and
carefully
calibrated
monetary
policies.
The
Finance
Ministry’s
initiative
to
engage
academia
in
economic
policy
discussions
marks
a
significant
step
towards
more
inclusive
and
informed
decision-making.
As
Ghana
navigates
its
economic
challenges,
the
insights
and
recommendations
from
this
roundtable
are
expected
to
play
a
crucial
role
in
shaping
future
policies
and
strategies
for
sustainable
economic
growth.