Dr. Kwabena Duffuor, a former finance minister, has suggested creating a National Economic Rescue Team to assist in identifying quick and long-term answers to the current economic issues.
He claimed that the severity of the economic crisis and continued efforts to restructure domestic debt in the direction of macroeconomic stability and economic recovery necessitate the creation of an economic recovery team.
This is the case, he continued, "because it has been demonstrated that no problem can be treated from the same level of consciousness that caused the problems. As a result, an economic national rescue team must be organised in order to address the current crisis.
This was stated by Dr. Duffuor, a former governor of the Bank of Ghana, in an interview.
countrywide, apolitical
The proposed rescue team, which should be national in character and non-political, should be composed of experienced bankers, insurance executives, successful business people, university professors in the field of banking and business, and respectable statesmen with experience in governance, according to the former finance minister, who worked for a time as an economist in the African Department at the International Monetary Fund (IMF) in Washington, DC, USA.
According to him, such individuals should be prepared to provide unselfish and voluntary services to the people without expecting payment in kind or currency in return.
According to him, the members of the rescue squad must also be committed, prepared to work, and have a track record of honesty and integrity.
Dr. Duffuor noted that the economic situation in which the citizenry found themselves was dire, thereby necessitating the need for an immediate response to bring relief to the people. He was named one of the four best Central Bank Governors in the World at an IMF/World Bank meeting in 1999 (Euromoney Publication).
He urged the President to consider creating the panel right away in order to assist in resolving the economic crisis.
The economist said that would be a service to put the economy back on a solid foundation and that he was willing to volunteer himself when needed.
When requested, I am prepared to provide that voluntary service to the country at this time. To assist in relieving the people's plight, he said, "I will freely provide the experience I have gained from managing the economy, from the Ministry of Finance, the Central Bank, and my think tank, the Institute of Fiscal Studies.
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Dr. Kwabena Duffuor, a former finance minister, has suggested creating a National Economic Rescue Team to assist in identifying quick and long-term answers to the current economic issues.
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