What gives impartial, proactive Ghanaians constant excruciating pain is the uncritical attitude and agitation by many nationals.
The calls for the removal of the Finance minister are shrouded in such uncritical stance.
Mr Kwame Pianim’s call to Ghanaians to rally behind the government to build a resilient economy is like a splash of chilled water on the hottest rock (graphic.com.gh, Oct. 26, 2022). It is not just the call, but Mr Pianim’s reflective submission that illumines his witty argument. He alludes to past enviable record of the government to imply that economic recovery is possible in the same capable hands.
Ordinarily, a person’s capability is determined by existing record and experience, which is the reason curriculum vitae is crucial in the business world. Records enable a person to be judged on merit.
Mr Pianim is arguing the concept of meritocracy, which is a fact lost on uncritical callers. Simultaneously, he calls on the government to mobilise all resources to secure IMF support, which will bolster credibility among international partners, which credibility would translate into investment, which can rectify the exchange rate.
For the two lines of reasoning, I consider his stance objective. Nevertheless, the Finance minister must work his hardest.
President Akufo-Addo has pragmatically cautioned the callers that their timing is very poor (graphic.com.gh, Oct, 26); in simple terms, the call for the Finance minister’s removal does not symbolise goodwill for Ghana.
The same person leading the IMF negotiation is also handling the 2023 budget. Should dismissal occur amidst the throes of crucial economic affairs? There might indeed be others, but will that person timely stem the roaring tide, at what cost?
I have extremely limited knowledge in economics and finance, but I am guided by experience and logic. I also have a sense of gratitude, which is a quality largely missing among many contemporary Ghanaians. It is extremely disingenuous to be inward-looking in these critical times.
Yet, many Ghanaians are arguing, living and operating like aliens who are completely unaware of the searing global turbulence or past regime errors. The International Atomic Agency has officially declared a global energy crisis. One expert cautions that energy crisis in the 70s lasted about a decade. ??????That hints the insightful about the future???????. Dependency mentality and extravagance can only constrain financially.
Compare the reasoning of President Akufo-Addo and Mr Pianim with the callers’ raw demand for replacement: Occupy Ghana has called on the President to lead because “the cedi burns”. However, it failed to offer constructive suggestions.
One Dr Ankrah has submitted that removing the minister would restore confidence in the economy but did not explain how.
A section of parliamentarians supports the call, but as a diasporan put it, “what alternatives are they offering? They could advocate scrapping their ex-gratia to stem running revenue”.
The exchange rate is not the only current nemesis for Ghana. Will the government-must-do-it-all attitude change? Mr Pianim has prudently advised Ghanaians to bring all hands on deck to support the economy.
Will the nation brainstorm its way out of the crisis? Will higher institutions and technical/vocational agencies focus on human resource development for enhanced local productivity for foreign exchange?
The real reason behind our economic crisis is that the country does not receive proper returns on its investment in human resources and established institutions. Huge funds get pumped into training and operating institutions, only for so-called experts to wait for government’s instruction to act.
Traditional and technical universities are heavily stocked with training equipment, yet we mostly turn out products mismatching existing vacancies. CCTVs on our roads cost a fortune; they could enhance revenue generation from traffic offences.
Yet, the police maintain the culture of roadside financial exploitation. Zero returns on costly digitised road safety provision.
All gaping holes into which national revenue are siphoned must be effectively clogged to improve local debt management.
Assemblies must be made to remunerate themselves from the pool of taxes and daily toll revenues. Some public sector allowances could be offloaded to respective sectors’ internally generated funds.
Learning institutions are failing to lead local industry into the knowledge economy of the 21st Century. Many across the manufacturing sector operate dated technology and products that do not meet international standards. The educational system fails to impose confidence in learners due to porous knowledge imparted to them. Many Ghanaians have not an ounce of commitment towards work and nation.
Combine that locally inflamed environment and global economic turbulence and the obvious result is regressed economy.
Everybody plays a role in the financial crisis, yet majority blame one person and are calling for his head.
What a country! IMF confidence in the minister holds; therefore, the President must not succumb to blind copying mentality. Ken should stay.