Professor Sharif Mahmud Khalid, Economic Advisor at the Office of the Vice President, has emphasised that the National Economic Dialogue was a crucial platform for addressing Ghana’s economic challenges with urgency and depth.
Speaking on Channel One TV on Saturday, 8th March 2025, he stated that the dialogue was necessitated by extraordinary economic conditions, including the financial struggles of the Bank of Ghana, rising inflation, currency instability, and the impact of the Domestic Debt Exchange Programme.
“We are not in normal times, and such circumstances call for discussions like this. When the central bank is posting losses, inflation is unpredictable, currency stability is a concern, and pension investments—once untouched—are being affected, it signifies extraordinary times. These demand extraordinary engagements, which is exactly what the National Economic Dialogue aimed to achieve,” he explained.
However, the initiative has faced criticism from some opposition figures, including Manso Nkwanta MP, Tweneboa Kodua Fokuo, who dismissed it as a superficial attempt by the government to buy time instead of implementing concrete solutions.
“We did not elect the whole nation to govern Ghana; we elected you. Your role is to solve the country’s problems, not to gather people to present papers. You keep referring to past governments—just give us solutions,” he remarked.
In response, Professor Khalid maintained that the forum was far from symbolic, arguing that it brought together some of the nation’s most respected economic and policy experts for in-depth discussions.
He highlighted key areas of focus, such as structural reforms at the Electricity Company of Ghana (ECG) and Cocobod, reinforcing the notion that no topic was considered too sensitive to be addressed.
He further illustrated the significance of the discussions by pointing out the calibre of participants.
“I was part of a committee on structural reforms, which included esteemed individuals like Togbe Afede. We tackled critical issues concerning ECG and Cocobod. Former Cocobod MD Dr K.K. Sarpong, who also headed GNPC under the Kufuor administration, was present, as was Paul Acquah, a former Central Bank Governor. The presence of such figures underscores the nationalistic spirit of our discussions. To have them in one room signified a collective effort to rally the nation towards economic revitalisation,” he noted.
With participation from industry leaders, policymakers, and civil society representatives, Professor Khalid asserted that the dialogue reflected Ghana’s commitment to tackling economic difficulties with practical solutions.
The event concluded with a communique outlining bold reform strategies aimed at restoring macroeconomic stability, driving sustainable growth, and enhancing governance.
He stressed that the discussions were not merely theoretical but designed to provide a clear roadmap for stabilising the economy and fostering long-term resilience.
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