Nii Moi Thompson, a former Director-General of the National Development Planning Commission (NDPC), believes the Bank of Ghana’s primary goal should be sustainable growth and job formation.
According to him, this is the best way to address the country’s unemployment issue.
Nii Moi Thompson made the comment as part of the #FixTheCountry campaign, which is calling for better economic conditions, stronger infrastructure, and increased job prospects in Ghana.
Following that, Finance Minister Ken Ofori-Atta conducted a press conference to discuss some of the issues posed by the #FixTheCountry campaigners.
Mr. Thompson praised the Finance Minister on Citi TV’s Face to Face for recognizing and addressing the voices of the youth who are voicing their grievances.
He said that in order to address unemployment, which was one of the key issues of the #FixTheCountry movement, some of the country’s laws would have to be changed, with a greater emphasis on providing jobs for Ghanaians.
“I am pleased that he [Finance Minister] acknowledged the voices of this young generation of progressives who have come to occupy the policy room. But he will also have to contend with some of the questions they posed. To be effective, we will also need to implement certain reforms, especially in the conduct of monetary reforms by the central bank. They have become concerned with market control for far too long.”
“We would change the legislation once again to allow sustainable development and job creation the primary goals of the central bank. It is the best way to address the country’s unemployment problem; there is no other choice. The central bank must be restructured. Indeed, they must have a labor economics department to help direct policies and, of course, to provide employment. As a result, structural changes are needed to put these ideas to fruition,” he said.
The economist also noted that in order for the country to progress in the right path, corruption must be heavily combated and more transparency expected of country leaders.
“We cannot achieve much in this world until we address the problem of abuse, and it must be front and center. The Minister must be willing to go to Parliament next year to testify about what has been achieved to combat corruption; otherwise, a ton of money would end up in the pockets of individuals.”
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SOURCE: ATLFMONLINE
