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B&FT organises 12th edition of Ghana Economic Forum in Accra

The 12th edition of the Ghana Economic Forum perfectly captures the pressing need for innovative and cooperative solutions to Ghana's economic problems

Economic development issues in Ghana have not received the necessary attention and prominence.

We live in a time when serious issues concerning economic development are subject to political swings and distortions.

The 12th edition of the Ghana Economic Forum, which happened at the Movenpick Ambassador Hotel on Tuesday (10 October) sought to create a revered platform that will bring together key stakeholders to deliberate on economic development issues with a non-partisan and straight forward approach.

The organisers hope to provide advocacy on the issues that will be raised through this platform, which will be held periodically.

The Chief Executive Officer of the Business and Financial Times (B&FT), Dr. Godwin Acquaye, hinted that through thoughtful collaboration, informed policies, and dynamic business practices, the country can overcome the persisting macroeconomic challenges.

The forum was on the theme “Build Back Better: IMF Support, Strategies to build a sustainable economy and dynamic business environment.”

According to Acquaye, “Ghana, a nation known for its rich cultural heritage and burgeoning economic potential, stands at a crossroads.”

“With a steadfast commitment to progress and prosperity, Ghana has the opportunity to leverage its resources, human capital, and strategic positioning on the continent to build a resilient and thriving economy”.

Abena Amoah, the Managing Director of Ghana Stock Exchange, said the lack of diversification is what has caused a lot of harm since the DDEP happened.

“Today’s lesson for everyone is what we’ve always heard in the classroom but haven’t practiced in real life; don’t put all your eggs in one basket,” she added.

In attendance were CEOs, Managing Directors, Chief Financial Officers, Board Chairmen, Government & Legal Advisors, Marketing Managers, Entrepreneurs, Civil Society Leaders, Senior- Level Decision Makers in Public & Private Sector organisations in Ghana, as well as executives of multilateral organizations and development partners

Humphrey Ayim-Darke, President of the Association of Ghana Industries, said, “From the perspective of industries building back better, we must focus on one of the macroeconomic games happening now. 

Richmond Atuahene, a banking consultant, has proposed a constitutional amendment to incorporate a debt limit or a debt cap on governments.

“For Ghana to build back better post-IMF, we must be prepared to amend certain aspects of 1992 Constitution, especially the area of a debt cap or debt limit for instance, the debt to GDP ratio of 50% so that we can prevent future debt crises as the current domestic debt exchange has basically destroyed both the entire financial sector as well as Bank of Ghana.”

The Ghana Economic Forum seeks to fill this gap because there is not a prestigious forum in Ghana known for discussing important economic issues.

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