Economic Advisory Council needed to reset economy -Opong-Fosu  

Mr. Akwasi Opong-Fosu on Ghana's Economic Reset

Mr. Akwasi Opong-Fosu is a Governance and Public Policy Analyst. He emphasizes the urgent need to reset Ghana's economy. The country is entering a crucial phase under a new government.

He believes bold economic reforms are essential for recovery and sustainability. These reforms should focus on long-term equity, not just short-term fixes.

Opong-Fosu told the GNA that establishing an Economic Advisory Council (EAC) is necessary. He argues that past conferences and summits have produced little lasting change.

It’s time to break this cycle of ineffective discussions, he says. A permanent platform is needed for continuity, inclusivity, and accountability in economic planning.

“A properly constituted EAC would provide that platform,” he added. As a former Minister of State, he values the Council's role in democratizing economic policymaking.

The EAC would engage citizens from various sectors, including farmers and youth. It would ensure their voices are heard in economic governance.

“Economic development isn’t just for experts or elites,” he stated. It must reflect the experiences of all Ghanaians.

Moreover, the EAC would serve as a real-time feedback mechanism for government policies. By monitoring trends and evaluating decisions, it can help keep the government responsive.

This feedback is vital to avoid costly policy mistakes and restore public trust. The Council would balance competing priorities like growth versus equity and innovation versus stability.

“This approach promotes holistic development while enhancing transparency,” he noted. A statutory EAC with clear mandates will reduce risks from narrow interests influencing policy.

Ghana faces significant challenges like youth unemployment and inflationary pressures. Addressing these issues requires inclusive governance based on trust and evidence-based decisions.

Opong-Fosu believes a legally established EAC could be a bold step forward. As Ghana begins this new chapter, institutionalizing such a Council is crucial for transformation.

Only through inclusive governance can Ghana achieve true prosperity that benefits everyone.