Ghana’s Progress at Risk of Stagnation, Warns Prof. Oquaye
Former Speaker of Parliament, Professor Mike Oquaye, has cautioned that Ghana risks taking a long time to achieve its development goals if it continues to move forward in fits and starts. Quoting late President John Mills, Prof. Oquaye emphasized the need for sustained progress, saying “This country must not behave as if we make four steps forward and three steps backwards; we may take a very long time to get to where we want to get to.”
According to GBC News, Prof. Oquaye made this statement while reflecting on the country’s development trajectory. He stressed that Ghana’s repeated engagements with the International Monetary Fund (IMF) have failed to deliver meaningful economic progress, citing the country’s current 17th IMF-backed arrangement.
Prof. Oquaye, a renowned academic and politician, has consistently advocated for domestic strategies and prudent management of Ghana’s natural resources. He believes that the country’s rich resources, including gold, oil, and diamonds, hold the key to sustainable development.
The former Speaker’s warning comes amid concerns about Ghana’s economic stability and growth. The country is grappling with debt sustainability issues and has implemented various reforms to restore macroeconomic stability.
As Ghana navigates these challenges, Prof. Oquaye’s message serves as a reminder of the need for consistent and sustained efforts towards development. His call for a new approach to economic management is likely to resonate with many Ghanaians seeking tangible progress.
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Author: Korkor Anumu
