'You cannot run an economy without crisis' - Terkper warns Ghana must prepare or pay
Seth Terkper is urging Ghana to brace for economic shocks recently on PM Express Business Edition on Joy News. He warned, "you cannot run an economy for two to three years, the longest, four, without one crisis or the other. It may be domestic, it may be external…"
Mr. Terkper's comments come amid concerns that instability in the Middle East could drive up global crude oil prices, with direct implications for fuel costs and inflation in Ghana. He stressed that vulnerabilities are not new and should form part of long-term planning. He pointed to the cyclical nature of global markets, warning that Ghana cannot afford to be caught off guard when shocks hit.
Mr. Terkper added that economists have developed tools to manage economic patterns. His remarks highlight the urgency for Ghana to strengthen buffers and adopt policies that can cushion the economy against external shocks, especially at a time when global uncertainties threaten to push up fuel prices and strain the cedi.
Quick Summary
Former Finance Minister Seth Terkper is warning Ghana to prepare for inevitable economic shocks. He says crises are unavoidable- but what does that mean for the country's financial future?
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