Prof. Sharif Mahmud Khalid, Economic Advisor at the Office of the Vice President, has emphasized that the National Economic Dialogue was a critical platform aimed at tackling Ghana’s economic challenges with urgency and depth.
Speaking on The Big Issue on Channel One TV on Saturday, March 8, 2025, Prof. Khalid emphasized that the forum was necessitated by the extraordinary economic conditions facing the country, including the Bank of Ghana’s financial struggles, rising inflation, currency instability, and the impact of the Domestic Debt Exchange Programme.
“We’re not in usual times, and unusual times call for dialogue like this. At a time when Central bank is posted losses, where inflation is sporadic, where currency stability is an issue, where we’re under a domestic debt exchange programme, where blue chips investments such as pensions having never been touched before – having been touched tells you that we’re in such extraordinary times. And such extraordinary times require extraordinary engagements and that is what is resulting in a national economic dialogue.”
Some opposition figures, including Manso Nkwanta MP Tweneboa Kodua Fokuo, have criticized the recently held National Economic Dialogue, dismissing it as a mere façade and a government ploy to buy time rather than take decisive action on the country’s economic challenges.
“We didn’t appoint the whole Ghana to lead Ghana, we appointed you to lead Ghana and so solve the problems of Ghana. You have raised a lot of issues linked to the previous government and so give us solutions. Don’t gather people to present papers,” he said.
However, Prof. Mahmud Sharif Khalid countered that the forum was far from a symbolic exercise, emphasizing that it provided a platform for some of Ghana’s most respected economic and policy experts to engage in substantive deliberations.
He highlighted discussions on critical issues such as structural reforms at the Electricity Company of Ghana (ECG) and Cocobod, stressing that no topic was off-limits.
According to Prof. Khalid, the level of expertise and commitment shown at the dialogue proved that it was a genuine effort to find lasting solutions rather than just political rhetoric.
“I was in a committee which was structural reforms, where you had interesting and very eminent people like the Togbe Afede – because we dealt into two elephants in the room which was ECG and Cocobod. And we had a former Cocobod MD, and who was also one of the immediate past heads of the GNPC, KK Sarpong, under the Kufuor era. So he being present in that room gives a nationalistic colour to whatever discourse we were having. We had the likes of Paul Acquah who was a Central Bank Governor, an astute Central banker under the Kufuor era. So the colour in which all of these and the flavor it brings to the national spectrum tells you it was serious business. And to have them in one room tells you we are calling and rallying the country around our national flag to see how we can revitalize and inject confidence into the economy. And that’s exactly what we did,” he revealed.
He noted that the discussions were guided by a sense of national urgency, with the government keen on identifying practical steps to stabilize the economy and create a sustainable recovery plan.
With participation from captains of industry, policymakers, and civil society leaders, Prof. Khalid maintained that the dialogue reflected Ghana’s commitment to tackling its economic challenges head-on.
Ghana has outlined a bold set of reforms focused on restoring macroeconomic stability, driving sustainable growth, and enhancing governance to tackle the country’s economic challenges.
These proposals were detailed in the communique released at the conclusion of the National Economic Dialogue (NED), held from March 3–4, 2025, at the Accra International Conference Centre.
With a focus on practical solutions, the dialogue sought to chart a clear path towards economic stability and sustainable growth.
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