Former President John Dramani Mahama and also NDC presidential candidate for 2020 election has advised President Nana Addo Dankwa Akufo-Addo to admit his shortcomings about the management of the economy and call for general dialogue to help address the challenges, especially the free fall of the cedi against all major currencies.
The former President offered this frank, open and patriotic advice in a face book post, stating, “Two heads are better than one “indicating how the 3-day Senchi Economic Forum arrived at practicable and achievable programmes for Ghana during his tenure.
Below is his insightful post
There is a much hackneyed saying, “two heads are better than one”.
There are times when a leader or a party must admit that they do not have all the answers to the challenges facing the economy or a particular sector. At such times, it does not take away from your dignity, but adds to your credibility, when you create a consultative process that forges a consensus and allows a nation to move forward.
I faced one such decision point as President in 2014. The 3-day Senchi Economic Forum was held in May 2014.
It was a broad consultative process and even though it was boycotted by the opposition NPP, it achieved its objective of producing the famous Senchi Report, which contributed to the Homegrown Fiscal Consolidation Programme.
This Homegrown Fiscal Programme led eventually to the ECF with the International Monetary Fund (IMF) and resulted in one of the most stable periods in Ghana’s economic history in 2016, with the cedi being one of the best performing African currencies.
This administration is probably at such a decision point. The recent free fall of the cedi against all major foreign currencies may be exposing a deeper malaise in the “fundamentals of the economy”.
It may serve Akufo-Addo/Bawumia and their economic team well to own up to their shortcomings and call a Senchi type stakeholder forum on the economy.

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