Another year, another opportunity
This year promises so many things. For the Ghanaian economy, it promises continued stability on the macro-economic front within the context of the current economic challenges, all things being equal.
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Inflation is expected to be tamed; interest rates to follow in tandem and Gross Domestic Product (GDP) is expected to grow at a modest 2.8 per cent.
We are expectantly waiting for the creditor committee to come clean with our external debt restructuring efforts. This, we hope, will further consolidate the marginal gains and hence release the long-awaited second tranche of the IMF bailout to hit the vaults of the central bank.
On the political scene, Ghana will be among the over 40 countries across the world to hold elections to elect new political leaders.
The opportunity, therefore, exists, on the political front for Ghana to yet again be the shining light on the continent of Africa by holding yet another free and fair election.
It is imperative to note that the trust of all political party manifestoes is the ECONOMY and how they all profer solutions to emancipate the country from being an overly import-dependent to an industrial-led one that creates jobs and offers decent wages for all.
Consequently, politics and the economy are very much intertwined. One cannot do without the other. Politics, after all, is about bread-and-butter issues.
For this election year, however, our economic situation has taken on an added impetus; a prolonged debt restructuring exercise, the end of which we are yet to fully grasp as a delayed negotiation on our external debt still hangs in the balance.
On this account, the stakes for this year’s elections may, therefore, be higher as some analysts predict. For some, however, this has been so for every election in Ghana.
It is also said that capital is cowardly. Therefore, in our bid to win political power, we owe it a duty not to scare investments away from this country, bearing in mind that Ghanaians have had to endure a lot already in the past two years or more.
Therefore, mindful of the words “sika mpe dede”, to wit “Money does not like Noise” we should use the opportunity of electing our leaders to show our common “Ghanaianness” of resilient people who have a long history of tolerance and peaceful co-existence.
Our neighbour to the West seems to be getting things right. Over the past years, their economy seems to be attracting all the right investments. With a projected GDP growth of around 7.8 per cent this year, Cote d’Ivoire has taken the place once held by Ghana.
And this is a country that, over a decade ago, was in a deep civil crisis.
We have the opportunity not to overcook the political hotbed with words and actions that tend to over-inflame passions and cause so much uncertainty in the economy.
The heat in the system will infer that our leaders show modesty on the political stage and use temperate language to convince voters. After all, politics is a contest of ideas and not a show of verbal or physical muscle.
Our precarious economic situation will also demand that politicians do not over-promise and be forced to implement policies that the current economic realities may not permit when they are voted into power.
We have an opportunity as business leaders, workers, employees and employers to ascertain from our leaders what would be the differentiator this time around. If it mean business as usual, the same piecemeal approach to how we have managed the economy or a radical shift towards a sustained period of growth and prosperity?
As journalists, we also have the opportunity to objectively and accurately analyse political party’s manifestos to inform and educate the populace and help them make “educated” decisions.
Thanks to the new media age, many can see developments across other regions or continents with limited resources. The youth, who form the large base of this economy, can relate to an economy that provides an equal opportunity to all not to a few.
On this note, the Graphic Business wishes to use this opportunity to wish all our readers a very prosperous new year. A year that offers opportunities for all who will take advantage of the current challenges to create opportunities. For theirs is the kingdom of success.
Happy New Year.
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