End The Many “Talk Shops” And Join Hands In The Drive To Firm Up Senchi Report –Veep

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By Maxwell Okamafo Addo

The Vice-President, Mr Kwesi Bekoe Amissah-Arthur, has called for an end to the many “talk shops” and conferences, stressing the need for stakeholders to join hands in the drive to firm up the Senchi report.

He observed that the time to act on the economic challenges of the country was now and the solution did not rest in organising conferences and talk shops, which in the end would not bring any resolution to the concrete problems facing the people.

The Veep who made the call in Accra on Tuesday when he opened a national stakeholders’ dialogue on boosting Ghana’s foreign exchange resources, reiterated the government’s resolve to implement the recommendations made at the Senchi forum.

The two-day dialogue which is organised by the Ministries of Trade and Industry and Finance with support from the Bank of Ghana is among other matters designed to help find a solution to the economic difficulties in the country.

Delivering the keynote address the vice-president identified three fronts from which the economy was largely challenged. He enumerated them as “over-reliance on only few traditional export commodities, a declining level of export revenues due to unstable and consistent fall in
cocoa prices and an increasing demand for foreign goods and services”.

Attributing the decline of the local currency and the dwindling sources of foreign inflows from exports to the combined effect of the identified challenges he said the economy had thus become susceptible to several adverse shocks in the international markets.

“It cannot be over-emphasised that this situation calls for all of us as stakeholders to dialogue and fashion out a collective strategy to raise inflows from both our traditional and non-traditional exports,” Mr Amissah-Arthur said.

As the dialogue would among other things discuss the government’s desired objective of a thriving economy and improved livelihoods, the vice-president urged delegates at the function to raise suggestions, objectives, recommendations and action plans for achieving the collective goal.

He further called on the participants to work together in building a consensus on how best to boost the country’s foreign exchange earnings.
Mr Amissah-Arthur gave the assurance that the government would continue to review and reform the tax and tariff regimes, incentive schemes
and general costs of doing business to ensure a conducive and a more attractive investment climate.

He told the participants that the Senchi consensus was to establish a mechanism to realign the budget and governance projects whenever the economy was affected by unanticipated external shocks.

“Let us see today’s dialogue as an opportunity to practically take on the task of balancing our trade by reducing imports and boosting exports through smart policy interventions in the short term,” the vice-president said.

Earlier in her welcoming remarks, a deputy Minister of Finance, Mrs Mona Helen Quartey, had expressed optimism that the dialogue would create a platform for professionals from the various agencies to brainstorm and find the best solution possible to the economic challenges.

She further expressed the government’s resolve not to relent in its effort at tacking the economic difficulties head-on as reiterated by President John Mahama.

He observed that the time to act on the economic challenges of the country was now and the solution did not rest in organising conferences and talk shops which in the end would not bring any resolution to the concrete problems facing the people.

Mr Amissah-Arthur,who made the call in Accra Tuesday when he opened a national stakeholders’ dialogue on boosting Ghana’s foreign exchange resources reiterated the government’s resolve to implement the recommendations made at the Senchi forum.

The two-day dialogue which is organised by the Ministries of Trade and Industry and Finance with support from the Bank of Ghana is among other matters designed to help find a solution to the economic difficulties in the country.

Delivering the keynote address the vice-president identified three fronts from which the economy was largely challenged. He enumerated them as “over-reliance on only few traditional export commodities, a declining level of export revenues due to unstable and consistent fall in cocoa prices and an increasing demand for foreign goods and services”.

Attributing the decline of the local currency and the dwindling sources of foreign inflows from exports to the combined effect of the identified challenges he said the economy had thus become susceptible to several adverse shocks in the international markets.

“It cannot be over-emphasised that this situation calls for all of us as stakeholders to dialogue and fashion out a collective strategy to raise inflows from both our traditional and non-traditional exports,” Mr Amissah-Arthur said.

As the dialogue would among other things discuss the government’s desired objective of a thriving economy and improved livelihoods, the vice-president urged delegates at the function to raise suggestions, objectives, recommendations and action plans for achieving the collective goal.

He further called on the participants to work together in building a consensus on how best to boost the country’s foreign exchange earnings.
Mr Amissah-Arthur gave the assurance that the government would continue to review and reform the tax and tariff regimes, incentive schemes
and general costs of doing business to ensure a conducive and a more attractive investment climate.

He told the participants that the Senchi consensus was to establish a mechanism to realign the budget and governance projects whenever the economy was affected by unanticipated external shocks.

“Let us see today’s dialogue as an opportunity to practically take on the task of balancing our trade by reducing imports and boosting exports through smart policy interventions in the short term,” the vice-president said.

Earlier in her welcoming remarks, a deputy Minister of Finance, Mrs Mona Helen Quartey, had expressed optimism that the dialogue would create a platform for professionals from the various agencies to brainstorm and find the best solution possible to the economic challenges.

She further expressed the government’s resolve not to relent in its effort at tacking the economic difficulties head-on as reiterated by President John Mahama.

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