A FORMER Governor of the Central Bank of Nigeria (CBN), Professor Charles Chukwuma Soludo, on Friday commended Ghana highly for doing better than his home country, especially in the areas of macro-economic stability and fiscal performance.
Prof. Soludo, who was speaking at the maiden Amissah-Arthur Memorial Economic Forum as the guest speaker, lauded Ghana’s stability and improvement in its economic management over the years.
Unlike previous events which witnessed propaganda-laced deliveries by speakers and cast the ruling party in bad light, the Nigerian economist was straight to the point to the seeming surprise of his audience, most of whom were NDC leaders.
According to him, the feats chalked up by the Akufo-Addo government had made Ghana one of the giants in West Africa and Africa as a whole.
“Ghana is doing relatively well comparatively. On the size of GDP, Ghana is now the 10th largest in Africa as of 2018. Remember what I said about the B (biggest) – 10 countries with GDP growth averaging over 6 per cent recently. Nigeria is stuck at 2 per cent, just for context. Unemployment less than 3 per cent, Nigeria is at 23 percent; while youth unemployment is about 13 per cent, Nigeria’s is 36 per cent. And poverty index – 8 to 10 per cent depending on the measure of poverty, whether you use 1.5 dollars or 1.9. Nigeria, some people now characterise us as a poverty capital of the world,” he said.
Ghana’s inflation rate which has hit single digit for many months and is currently at 9 per cent did not escape the analysis of Prof. Soludo.
Peace Index
“If you go by the publication by the Friends of Peace, on the fragile states index, Ghana is the most stable country in West Africa. Ghana is ranked 110th out of 178 countries in the world and Nigeria ranks 14th with Yemen and Somalia ranking 1st and 2nd respectively. So you can put the context. It’s ranked from the worst to the best. Nigeria is on the red alert list and you guys are competing with most several of the developed countries of the world.
“So, there is something to often have some fear. I present comparative figures for Nigeria and not just because it is your West African neighbour, but as Africa’s largest economy and whose structure is similar to yours, largely dependent on primary commodities.
“Whatever Ghana is doing to produce these results including its macro-economic stabilization especially fiscal consolidation and structural policies, it must intensify albeit with continuous innovations and reforms. Comparisons are not to make you complacent or depressed, but to put your efforts in context. Never take what you have achieved for granted,” he added.
The World Bank has projected Ghana’s growth target for 2019 to be 7.4% – an industry-driven progress especially by oil, gas and mining.
With manufacturing expected to post a higher growth and a medium-term (2019-2022), overall GDP is projected to grow on average at 7.0%, as the effects of oil on growth declines and non-oil growth strengthens.
The visiting former Governor did not overlook the President’s flagship initiatives when he advised the inclusion of ‘One Village, One Clinic’ which he said should be powered by technology to improve living standards of the people.
Source: Daily Guide
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NDC in opposition is still incompetent. Look at how they were looking at the distinguished Prof Soludo...like tin tin to!! Cant stop laughing at JDM and Kidnap-their-children Ofosu Ampof. You paid for the Prof's ticket to slay NPP and NADAA but you ended up being disgrace. You've seen your smoothness level...BTW Kobby the facts given by the Prof could be verified on Google..just go there and stop being igno-***barred word*** like your NDC folks who don't seem to rea son with facts. Dr. Bawumia is sharpening his pencil to give them a good lesson in 2020 campaign. Just wait and see.
LOLLLLLL.. See their faces.
Branaboy. Unemployment has a definition. It is not by speculation or personal feeling that unemployment is counted overestimated. Give us the source of your figures. Propaganda chop las saaamiat
NDC does not like hardworking. You invite somebody to talk at your function without asking for even a synopsis of his presentation. Any who is interested in reading such things when there is no money to count or diabolics to plot and execute, pertaining not JDM, not Ofosu Ampofo, not Asiedu Nketia. They assume every sensible person is greedy, and every greedy person is committed to the NDC. Saaaaamia, again!!!!!
kwasiafour you brought him to do propaganda for you, mahama and his party will always be humiliated because of their wicked ways
I don't know where Soludo got his unemployment figures for Ghana from, but I am very sure the 3% figure is way wrong. My estimate on unemployment in Ghana is about 20% with under-employment accounting for a further 30%. Solving the unemployment issue is going to take a decade of serious economic growth, major improvement in educations stands and a major push in value added manufacturing and processing supported by the services industry (hotel, retail and wholesale, distribution and professional services). Generally though the Governor is right in his assessment of Ghana's current economic health, albeit that health is still fragile.
SHAY SHAY SHAY SHAAAAAAAME TO YOU SAMUEL OFOSU MAHAMA
LOL. Look at the faces of the NDC propagandist. came to listen to lies but got disappointed. And listening to the comments below you can see how best their propagandist supporters will colour code their comments in any way to hide their dislike for a government that is working. My advice to Ghnainas is this, when Nkrumah was in power most people complained against him and only saw his good works after he was dead and gone. Let's keep Nana Addo in power. We don't want to bring another id$t and later realise we made a mistake.
It amazes me how childishly the average Ghanaian is ready to accept anything, so long as it seems to favour the party they support. For years, I thought Ghanaians were genuinely as smart and peaceful as we make ourselves to be. After staying in the UK for 22 years, I realize just how dumb, lawless and uncivilized we are. Anybody can get up and do anything and ascribe some party politic something to it and go scot free. And the supposed disciplinarian president sits unconcerned. I was nearly lynched when a motorbike riding against traffic, in my lane, hit me. The police did nothing to stop the harassment I got from the family of the rider. In fact they supported them to export money from me. And NPP supporters think there's peace. Wait till it blows up in your face. Remember, the absence of conflict does not signify the presence of peace.
Really? You believe the ***barred word*** the professor spewed? Unemployment he says is what? 3%? Youth unemployment is 13% inflation is 9%? Based on what indices? Based on what figures? As for waking up, Ghanaians, please wake up. But wake up to the reality that the NPP has failed miserably. I'm a card bearing member of the the NPP but I vote for the realities and I can promise you, I'm looking for a viable alternative to NPP.