DR.AMIN ADAM CHALLENGES PRESIDENT MAHAMA'S ECONOMIC DIALOGUE,HIGHLIGHTS POSITIVE INDICATORS FOR GHANA'S RECOVERY

DR.AMIN ADAM CHALLENGES PRESIDENT MAHAMA'S ECONOMIC DIALOGUE,HIGHLIGHTS POSITIVE INDICATORS FOR GHANA'S RECOVERY 

Dr. Amin Adam, former Finance Minister of Ghana, has challenged President Mahama's assertion regarding the country's economic struggles, labeling it as unnecessary to initiate a national dialogue on such matters. He believes the President is already aware of the situation and that discussions could distract from addressing more pressing issues.

In a recent address in Accra, Dr. Adam disputed claims about inheriting a faltering economy by emphasizing positive economic indicators that suggest recovery and growth. Key points he highlighted included:

- International Reserves: Ghana's reserves stood at $9 billion as of December 2024, sufficient to cover four months' worth of imports—exceeding the International Monetary Fund’s (IMF) recommendation of three months.
 
- GDP Growth Rate: The country has experienced an average GDP growth rate of 6.4%, reflecting robust economic activity.

- Trade Balance and Current Account Surplus: Ghana has recorded surpluses in both its trade balance and current account, indicating a favorable position in international trade.

- Fiscal Management: There has been a notable reduction in fiscal deficits in 2024, showcasing improvements in financial management and contributing to overall economic stability.

Dr. Adam asserted that these positive metrics clearly indicate strong economic fundamentals and point towards a phase of accelerated recovery for Ghana. He urged President Mahama to focus on strengthening this recovery instead of engaging in dialogues that might detract from essential actions needed to enhance the economy further.

In summary, Dr. Adam's analysis suggests confidence in Ghana's current economic trajectory, advocating for proactive measures rather than discussions perceived as sidestepping real challenges.