Seth Terkper is the Economic Advisor to the President
Economic Advisor to President John Dramani Mahama, Seth Terkper has stated that it is impossible to sustain Ghana’s economy for four years without encountering crisis.
“You cannot manage an economy continuously for four years without one crisis,” he stated.
Speaking on JoyNews on June 12, 2025, as monitored by GhanaWeb Business, Terkper pointed out that good economic management lies not in avoiding shocks but being prepared for them.
According to Terkper, building buffers and reserves is crucial for managing economic downturns, citing the COVID-19 pandemic as an example of an unforeseen crisis that required swift action.
“Let’s make sure that, you know, we have reserves…reserve which is a sacrifice. To set reserves, as in households, as in businesses, is a sacrifice” he said.
Terkper explained the importance of sustaining economic reforms and preparing for the downside.
He said Ghana’s economic difficulties stem from poor management including the depletion of strategic funds meant for debt repayment.
DR/AME
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