President John Dramani Mahama
President John Dramani Mahama

Ghana’s President John Dramani Mahama said on Wednesday his country had the opportunity for an economic renaissance despite a recent slump in the economy.

President John Dramani Mahama
President John Dramani Mahama

He said Ghana’s economy was beginning to respond favorably to the fiscal and monetary measures the government had adopted, especially following the endorsement of its homegrown fiscal consolidation policy by the International Monetary Fund (IMF).
The executive board of the IMF this month approved a three-year 918 million U.S. dollar-support program in Extended Credit Facility for Ghana.
“I am positive that the country’s debt sustainability and macroeconomic stability will be restored to foster a return to high growth and job creation and to protect social spending,” President Mahama said at the ongoing National Job Summit in Accra.

These are core measures for improving revenue performance, support of fiscal consolidation efforts and restoring investor confidence in Ghana’s economy.
“What does this mean to the Ghanaian worker? It means if the stability is maintained and the positive trend continues, government, being the major employer, will be able to increase social spending and improve infrastructure investments in the various sectors, especially the energy sector, which will in turn improve job creation,” said the Ghanaian leader.
Government will also be able to generate enough resources to equip public institutions and agencies to deliver quality services to Ghanaians.
He said the government’s commitment to this process had realized the passage of the Youth Employment Agency Bill to establish appropriate governance structures and employment opportunities for the teeming youth across the country.
The new agency, which has received presidential assent, will be a unique instrument for providing employment to young people but, more importantly, provide them with useful skills and prepare them for the world of work.
The target under the Youth Employment Agency initiative is to create 100,000 jobs in five modules, namely sanitation, community service and protection, education, health assistance and youth initiatives in textiles, which will target mainly female head porters popularly known as ‘kayayei’.
The summit is being jointly organized by the ministry of Employment and Labor Relations and the International Labor Organization (ILO) under the theme: “Inclusive Growth Through the Creation of Productive Employment and Decent Work for all Ghanaians”.
It is expected to engage relevant stakeholders and social partners in the employment industry to share knowledge and best practices on job creation at the national, regional and international levels. Enditem

Source: Xinhua

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