THE Ministry of Finance and Economic Planning has given the assurance that the government has the capacity to complete on schedule all development projects, despite the global credit crunch.
A story carried in the GHANAIAN TIMES of yesterday quoted an official of the ministry as saying that between this year and 2011, the government had concluded agreements with the donor community to cover projects and programmes that had been incorporated into the budget.
The health of the economy must engage the attention of every Ghanaian who should be prepared to offer suggestions on how the country can ride the turbulence of the global scene.
Fortunately, we have not been bedevilled with economic problems on the scale that hit the advanced economies, particularly the United States and the United Kingdom, but we cannot pretend that the danger signs are not knocking at our door.
That is why coming together to protect our economy in order to safeguard the well-being of our people, especially the vulnerable, has become an imperative.
All over the world, jobs are at risk, people have lost their homes, while the net worth of big-time businesses in the banks and in stocks has been wiped away.
Our economy has been making steady strides for more than two decades now and it is essential to sustain these gains, even if for now we cannot build on them because of the global crisis.
The DAILY GRAPHIC pleads with our leaders in government in the churches and the communities to unite to restore hope to those who are feeling the effects of the global crisis.
We, therefore, endorse the suggestion by Dr Paa Kwesi Nduom, a leading member of the Convention People’s Party (CPP), to the government to put together a team of experienced people and experts from the Bank of Ghana and the financial sector to be called the “Ghana Domestic Business Stimulus Committee” who will select some local industries to assist to build their capacities to make them globally competitive.
We should immediately begin to look within to find solutions to the challenges that have emerged as a result of the global credit crunch. For some time now the cedi has been depreciating against major currencies and inflation has become a bother, resulting in the high prices of goods and services.
Now is, therefore, the opportune time for the nation to be in tune with the Akan proverb that says, “Se wohu se egya ato wo yonko abogyese mu a, sa nsuo si wo dee ho,” to wit, when you see a neighbour’s beard on fire, get water handy.
The G-20 leaders representing the most influential countries in the world concluded their meeting yesterday, having agreed to the need to create a new consensus to reconstruct the world economy.
The DAILY GRAPHIC suggests that we take a cue by generating more revenue locally to finance our development activities, instead of always relying on the international community. We know that at their meeting in London, the richest nations restated their obligation to help developing countries to meet the objectives of the Millennium Development Goals (MDGs).
The way forward will be tough but if we all recognise the need to raise productivity, we can give hope to those who are worried about their jobs and living conditions.
It is also important for our people to recognise the need for more sacrifices in the days ahead and endeavour to show patriotism in our offices, communities and homes.
The DAILY GRAPHIC is optimistic that with commitment from every Ghanaian, we shall pull through these difficult times in order to make Ghana a better place.
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