Productive economic is solution to Ghana’s macroeconomic challenges – Professor Turkson

Economist Professor Ebo Turkson is urging the government to turn the economy into a productive one.

According to him, a produc­tive economy will create jobs for the youth, grow businesses and also help the country service its debts easily.

Speaking to Joy Business on the back of the International Monetary Fund (IMF)’s engage­ment with some international creditors for a possible cancella­tion of Ghana’s debts, Professor Turkson said the cancellation of Ghana’s debt by some bilateral countries was not the way to go to revive the economy.

“This is not a solution to our challenges. It might be a solution to our immediate crisis and for us to be able to tackle a real issue that confronts us as a country, I mean if you are dying, the doctor needs to save you first before they begin to look at the illness that is killing you and that is where Ghana is at the moment.”

“So it is not going to be the solution to our problems. The solution to our problems is for us to turn our economy into a productive economy”, he further said, adding “an economy that is less dependent on borrowing, an economy that is creating jobs for the youth, an economy that is ensuring that we are able to sustainably service our debts”.

Professor Turkson conclud­ed that the solutions to Ghana’s problems were medium to long-term, and “this support individu­ally from the IMF, and if we get it from our creditors, is just to free us of the burden that is on our economy now, so that we begin to tackle the critical issues that confront us”.

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