Enoch Okomfo Okonah, an economy and policy analyst, has voiced concerns over Ghana's heavy dependence on the Bretton Woods institutions to manage the Ghana Cedi, suggesting it reflects a lack of clear policy direction to address the country's economic challenges. Speaking to the Ghana News Agency in Sunyani, Okonah stressed the need for bolder economic policies to strengthen the Ghana Cedi, rather than relying solely on foreign aid and borrowing.
As the Chief Executive Officer of DUMAT Africa, a Sunyani-based economic policy think-tank, Okonah proposed a targeted tax regime aimed at boosting domestic production and reducing imports. He advocated for government subsidies on imports to support the private sector and foster a resilient local economy, which, in turn, could stabilize the economy, drive rapid growth, and strengthen the Ghana Cedi for wealth creation and poverty reduction.
Highlighting the importance of a robust local economy in attracting investments and building investor confidence, Okonah called for proactive economic policies to address the sharp rise in market prices of essential goods and services. With Ghana's IMF deal in place, Okonah urged for sound economic strategies that prioritize the well-being of all citizens and contribute to building a better society.
