Former Speaker of Parliament, Professor Aaron Mike Ocquaye is advocating for the restructuring of Ghana’s economic system to position it to be self-reliant.
Speaking at the launch of the sixtieth anniversary celebration of the Department of Political Science on the University of Ghana Professor Mike Ocquaye lamented Ghana’s overreliance on imports.
He puzzled if the population could survive if a much worse pandemic than COVID-19 and a bigger war than the ongoing one among Russia and Ukraine were to occur and cut supply of goods .
Suggesting solutions to prevent such over reliances , Professor Mike Ocquaye indicated that the country ought to begin looking internally to produce its own food.
“An economic system that’s over 70% import-established is not any economy. The colonial relationship was basically one of the manufacturers of raw materials vis-à-vis manufacturers of completed products being dumped on us. How has this changed? We all know that the answer has no longer changed.
“If a global pandemic worse than Covid have to rise up or a global war bigger than Ukraine arises and no ship comes into our ports for over three hundred and sixty five days or two, and for that matter the sugar, flour, rice, indomie, cooking oil and so on. Do now not enter our state anymore lets merely die? It is a question worthy to reply.
“Our economic system ought to be restructured in order that we first and importantly feed ourselves with our own. If this is not possible, then we don’t deserve to exist as a nation so that our complete nationhood must be puzzled by our present intellectuals. But is it viable just to fold our hands? We need to put our hands together and produce to eat ” he stated.
Ghana is presently experiencing an economic downturn leading to incease in the widespread cost of living and fuel price increases .
The prevailing challenges has compelled the government to initiate a move with the International Monetary Fund for an economic rescue programme.