Sir Sam Esson Jonah, a statesman, has advised decision-makers to make efforts to traverse the challenging route of economic reform while paying more attention to the needs and sentiments of the populace.
While everyone had to make sacrifices to solve the issues, he claimed, the resurrection process needed to be sympathetic enough to not make matters worse for the people.
In his remarks at the fifth session of the University of Cape Coast's (UCC) 55th graduation, Sir Sam, the university's chancellor, also cautioned against finger-pointing during the crisis, saying that "this is not the time for the blame game."
The Jonah Capital Executive Chairman stated that instead, "We need to focus on a constructive spirit to get us out of the mess we find ourselves in."
The event was held for those who finished a variety of postgraduate degrees of study in the academic year 2021–2022.
Osabarimba Kwesi Atta II, the Oguaa traditional area's paramount chief, as well as certain MPs and members of the academic community attended.
a challenging adjustment
While the event was a historic one for the graduates, Sir Sam noted that it took place during a period of immense uncertainty and difficulty for the country.
In light of recent complicated, turbulent, and uncertain economic and geopolitical developments, we are living in unprecedented times.
The UCC chancellor stated that "this scenario has cultivated a rising sense of hopelessness and helplessness, particularly among our youth, a phenomenon that has the potential to threaten the security and stability of our country."
He characterized the current state of the economy as "extremely difficult," with inflation and interest rates at unacceptably high levels.
The business expert who sits on the boards of several corporations across the world said it was "a risky mix" because of the unstable local currency.
There are no nice policy options for handling this crisis, he said.
route out
Sir Jonah then turned his focus to potential remedies, saying that the moment had come to make harsh and audacious decisions rather than continue with business as usual.
There are no beautiful policy options for handling this predicament, as we have shown.
Let me add that we will all be required to make a lot of sacrifices in this area.
The business will not continue as normal, and none of us should act as though it will.
"As we travel the challenging route of economic restructuring, my advice to important politicians is that the times we live in call for a healthy dose of humility in decision-making.
The industrialist said, "In this sense, it is essential that we make decisions with empathy and a strong awareness of the impact of our actions on the lives of our residents."
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