Government Must Develop Homegrown Policies To Transform The Economy- Mahama

Former president of the Republic of Ghana, John Dramani Mahama in an interview on the Voice of America television program,” Straight Talk Africa” has disclosed that it is time for the incumbent government to develop innovative homegrown policies to transform the economy rather than falling on the International Monetary Fund (IMF) for support.

The current economic crisis in the nation and the continued loans from IMF is a risk to the nation’s economic stability.

“I think that ……this program….. will bring back debts to sustainability levels…  to achieve policy credibility so that investors, again feel confident that they can bring their money to Ghana, then we start from there and maintain that prudence. This should be the last time that we go to the IMF,” he said.

Former President Mahama also added that “the Presidency should clean up its house first by showing the way in this regard”.

“If the President himself is cutting the budget of government machinery, then everyone must be prepared to make a sacrifice.”

He also indicated that “the next NDC government will undertake a constitutional review as a part of its strategy to sustain the economy”.

“We’ve been operating this constitution for more than 26 years, and I think that the time has come for us to look at it again and do some tweaking, in order that we can have a more constitutional environment to grow the economy,” he added.