We cannot wait - Prof. Ebo Turkson urges Mahama to push structural reforms now
Professor Festus Ebo Turkson urged the Mahama administration to implement long-delayed structural reforms now, speaking on Joy News' PM Express Business Edition on Thursday. He stated, "We are enjoying stability, and we need to build resilience. Resilience will come with a structural change." He cited the recent decision to supply crude oil from the Jubilee Field to the Tema Oil Refinery (TOR) as an example of needed reforms, noting it is a structural change that will reduce imports of refined oil and put less burden on the cedi.
According to Prof. Turkson, a relatively stable cedi would lead to low inflation, a low monetary policy rate, and declining interest rates, creating an environment for businesses to expand. His comments follow Ghana's improvements in key economic indicators, including easing inflation, stronger foreign reserves, and a more stable exchange rate. However, Prof. Turkson argued that these gains require tackling the economy's structural weaknesses.
Quick Summary
Professor Festus Ebo Turkson has urged the Mahama administration to implement structural reforms now, warning that Ghana cannot afford to wait. He
Summary - read the full story for complete context.
Image: Joy Business
GhanaFront aggregates news from trusted sources. Click to read the original article.
Keywords
Explore related tagsMore from Joy Business
Related Stories
More from Business & Economy
TOR refining Jubilee Oil could ease pressure on the cedi - Economist hails structural shift
Discover how a key decision by the Tema Oil Refinery could reshape Ghana's economic landscape and its impact on the cedi.
8h ago•3 min read
Bank of Ghana launches community banking reforms as Governor announces transition from rural banks @ 50th anniversary celebration
Ghana's financial landscape is set for a major overhaul as the Bank of Ghana introduces new community banking reforms - discover what this means for
1d ago•4 min read
Nkoko Nkitinkiti alone cannot transform poultry sector without fixing feed challenges - Farmers
Discover why poultry farmers believe current initiatives alone won't transform the industry without tackling deeper systemic problems.
1h ago•4 min read
Community banking sector grows to 147 institutions, serving over 8m customers - BoG
Discover how Ghana's community banking sector has transformed since its inception, becoming a vital force in the country's financial system.
22h ago•2 min read
