- Ghana's current president Mr Addo Dankwa Akufo-Addo has been advised to seek deep insights from the two former presidents, John Dramani Mahama and John Agyekum Kufuor
- Dr George Domfe said because the two former presidents have faced similar economic challenges, they will be able to proffer sound solutions to weather the economic turbulence
- Dr Domfe said the president must do this before his next address to the nation on the economy
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Economist Dr George Domfe has advised president Nana Akufo-Addo to tap into the expertise of former presidents John Mahama and John Kufuor in efforts to surmount the economic crunch.
The Senior Research Fellow at the Centre for Social Policy Studies (CSPS) at the College of Humanities, University of Ghana, wants the president to build consensus in dealing with the national crisis.
“I am suggesting that in the next address, the President should invite the two former Presidents for them to also share a word or two with Ghanaians,” Dr Domfe told YEN.com.gh in an exclusive interview.
In his view, Ghana’s economic crisis is an old problem that has been exposed by several different forces.
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“The experience of the former presidents is obviously needed. Importantly, a round table discussions by these individuals will trigger the need for us all to forge ahead in unison to address the exchange rate vulnerabilities once and for all,” he said.
Over the last couple of months, Ghana's economy has been characterised by a high cost of living caused by hyperinflation and a rapid depreciation of the cedi.
Ghana's petroleum market is also unstable, causing price volatility that further worsens inflation.
Ghana is seeking $3 billion from the IMF to shore up the balance of payment shortfalls and restore confidence in the economy.
Akufo-Addo’s Address On Economy: Economist Dr George Domfe Says President Was Spot On
Meanwhile, YEN.com.gh has also reported in a previous story that Dr George Domfe scored top marks for president Nana Akufo-Addo’s national address on Ghana’s economic crunch on Sunday, October 30.
The Development Economist said the president adequately touched on all the relevant issues.
He said the president articulated measures the country needed immediately to address the exchange rate volatilities.
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