Finding local solutions to our problems

In spite of the challenges facing the country, we are still the toast of many nations on the African continent.

Ghanaians still display the strong values of hospitality, respect for peace, the rule of law, religious tolerance and peaceful co-existence that are unparalleled in many parts of the world.

That explains why many Ghanaians, including President John Dramani Mahama, continue to appeal to their compatriots to not be pessimistic but have hope that there is light at the end of the tunnel.

We cannot, however, discount the indicators of an economy that is on the brink of a meltdown. The cedi is virtually in a free fall against the major currencies and there are no indications yet that the depreciation will end very soon.

Also, interest rates are on the rise, making the cost of doing business very high. Consequently, some businesses that cannot cope with the high cost of utilities and petroleum products are closing down.

Earlier in the year, organised labour threatened to lay down its tools in protest against the high cost of utilities, but it withdrew that threat after compromises were reached on the adjustments.

Nonetheless, since the beginning of the year, the agitations have been overwhelming, culminating in nationwide organised labour demonstrations last Thursday.

For some time now, government spokespersons have moved away from their defensive posturing to a rather engaging encounter in which they try to explain why we face the present predicament and what the government is doing to put the economy on an even keel.

If really where we are now requires all hands on deck, then the government that has the key to lead the processes of economic rejuvenation must try and accommodate all views in the hope that in the marketplace of ideas, the best options will triumph.

The situation is not peculiar to the Mahama administration, but we must bear in mind that when problems occur, they are always laid on the doorstep of the person in the saddle, as we tend to forget about the past.

It is in this vein that the Daily Graphic is encouraged by President Mahama’s acknowledgement of the challenges and his assurance that he will not sleep over the concerns raised by organised labour in their last Thursday nationwide demonstration.

Some Ghanaians have, time and again, offered prescriptions for our economic malaise.

But there is no way our over-reliance on imports will ease the pressure on the economy, especially the cedi. We ought to step up our productive activities to shore up the value of the cedi and address the balance of trade.

The government itself has initiated moves to stimulate local production and consumption in a campaign to get Ghanaians to patronise made-in-Ghana goods.

The destiny of the country is in our hands if we take the position that it is counter-productive to import every conceivable item, including toothpick, for domestic use.

Let us resolve to harness our resources for national development and seek support only when there are no local substitutes.