Former Majority Leader and former Suame MP, Osei Kyei-Mensah-Bonsu, has questioned the sustainability of Ghana’s recent economic improvements, despite acknowledging positive macroeconomic indicators.
Speaking on Asempa FM’s Ekosii Sen programme, he noted that the cedi has stabilised and inflation has declined, but expressed concern about how long the current approach to economic management can be sustained, particularly beyond 2028.
According to him, sound economic management should translate into tangible development that directly improves the lives of citizens, rather than merely reflecting better statistics.
He cautioned that using foreign reserves to support the cedi may provide short-term stability but could create long-term challenges, especially if the same resources are needed continuously to service public debt.
“Managing the economy should translate into the development of the country, which ultimately affects citizens. It is not just about macroeconomic indicators,” he said.
“While the cedi has stabilised and inflation has declined, we need to examine how this stability is being achieved. If the government is using dollars to support the cedi, and the currency is treated as consumption money, how sustainable is that stabilisation?” he questioned.
He added, “If debts are being paid on a continuous basis using the same resources, we must ask how sustainable this approach really is.”
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