The economic advisor to President John Mahama, Seth Terkper, says the current administration is laying down long-term financial buffers to avoid a repeat of Ghana\u2019s economic setbacks.<\/p>\n
The former Finance Minister disclosed that government is actively populating the sinking and stabilisation funds to prepare for future shocks.<\/p>\n
\u201cWe are populating \u2014 and I\u2019m quoting the Finance Minister \u2014 we are populating the sinking fund. We are populating the stabilisation fund,\u201d he said on JoyNews\u2019\u00a0PM Express Business Edition<\/em>\u00a0on Thursday night.<\/p>\n Mr Terkper said these steps are part of deeper structural reforms to ensure Ghana avoids the boom-and-bust cycles that have plagued the economy in recent years.<\/p>\n \u201cIt takes hard work, strategising, and it takes learning from experience and the hiccups that have happened in the last few years,\u201d he said.<\/p>\n \u201cSeeing an economy getting out of HIPC, and all other economic turmoils, and then seeing some stability \u2014 that\u2019s a dramatic change.\u201d<\/p>\n He believes Ghana is now witnessing a gradual reversal of the economic decline that followed years of fiscal pressure.<\/p>\n \u201cWhat you are seeing now is a reversal, a gradual reversal of those trends,\u201d he said.<\/p>\n He recalled past periods of fiscal stress. \u201cIt is reminiscent of the days of single spine, huge arrears, borrowing, negotiation with labour, which is also based on compensation.\u201d<\/p>\n When host George Wiafe suggested that things seem to be looking good under the current economic team, just five months in, Mr Terkper agreed, but with a warning.<\/p>\n \u201cYes,\u201d he said, \u201cbut if you listen carefully to the Finance Minister when he presented the budget, and President Mahama when he presented his speeches during the Economic Dialogue and the State of the Nation Address, there was always the need to get some traction in the short term. But the medium term was never lost.\u201d<\/p>\n He said history does not allow room for complacency.<\/p>\n \u201cI just like to remind the audience that inasmuch as we have had these successes, history tells us not to be complacent.\u201d<\/p>\n According to him, the administration is also introducing rules to protect fiscal discipline. \u201cWe are setting debt ceilings, debt floors, deficit ceilings and floors which should guide the medium term,\u201d he noted.<\/p>\n Mr Terkper said the current gains are encouraging, but the real focus is on building a framework for sustainability.<\/p>\n \u201cI don\u2019t think the narrative, inasmuch as what is happening is something that attracts attention, I don\u2019t think the narrative has been just on short-term successes.\u201d<\/p>\n He stressed that Ghana\u2019s economic story should not just be about immediate relief. It should be about long-term stability, resilience, and discipline. \u201cThat\u2019s the only way,\u201d he said.<\/p>\n The economic advisor to President John Mahama, Seth Terkper, says the current administration is laying down long-term financial buffers to avoid a repeat of Ghana\u2019s economic setbacks. The former Finance Minister disclosed that government is actively populating the sinking and stabilisation funds to prepare for future shocks. \u201cWe are populating \u2014 and I\u2019m quoting the […]<\/p>\n","protected":false},"author":123457,"featured_media":11372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[3525,41],"tags":[3620,3619],"class_list":["post-11371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-general-news","tag-hipc","tag-seth-terkper"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/123457"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11371"}],"version-history":[{"count":1,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11371\/revisions"}],"predecessor-version":[{"id":11373,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11371\/revisions\/11373"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/11372"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Disclaimer: The content provided on Fish FM Online is for informational and entertainment purposes only. While we strive for accuracy, we do not guarantee the completeness, reliability, or timeliness of the information presented. Fish FM Online and its affiliates are not responsible for any errors or omissions, nor for any decisions made based on the content available on our platform<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"