National Economic Dialogue: Government must focus on bringing inflation down—Williams Peprah

An associate finance professor at Andrews University, United States of America, Williams Peprah, has advised that the government focuses much on tackling inflation, as this will help Ghana achieve economic stability.

Following the National Economic Dialogue at the Accra International Conference Center on Monday, March 3, Prof. Preprah, in an interview with Joy News, explained that exchange rate issues are linked to Ghana’s inflation management, emphasizing that the two are interconnected.

“As a finance and economist, I would like to say that the most important thing he must focus on is how he works on bringing inflation down. The issue of exchange rate situations—everything is linked to how we manage our inflation.”

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According to him, the previous government’s decision to expand the economy right after COVID-19 is a clear example of how government expenditure, when not managed, can increase the country’s debt.

He therefore advised that the government gear its focus towards reducing inflation, which will help stabilize the country’s economy.

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Prof. Peprah further advised that the Mahama government focuses on its 24-hour economy policy, noting that the policy will increase productivity and not government expenditure.

“The 24-hour economy when it comes in will bring production up but not government expenditure. It will create employment to increase employment, which will address the unemployment situation, and in that case you will see that your exchange rate will become a little bit stable.”

He believes that when productivity increases, it will positively affect the country’s exportation and significantly stabilize the economy.