Seth Terkper States Managing Ghana's Economy Without Crisis for 4 Years is Unlikely

Seth Terkper, the Economic Advisor to President John Dramani Mahama, has asserted that it is not feasible for any economy, including Ghana's, to sustain growth for a continuous four-year period without encountering some form of crisis. During an appearance on JoyNews on June 12, 2025, as monitored by GhanaWeb Business, Terkper emphasized that the true measure of effective economic management lies not in the ability to entirely avoid unforeseen economic shocks, but rather in the preparedness and resilience to manage them when they inevitably arise.
Terkper highlighted the critical importance of establishing and maintaining robust economic buffers and reserves. He stressed that these reserves, which often require a degree of sacrifice similar to how households and businesses set aside savings, are essential tools for navigating economic downturns. He cited the global COVID-19 pandemic as a prime example of an unforeseen crisis that necessitated swift and decisive action, underscoring the need for readily available resources.
Furthermore, Terkper elaborated on the necessity of sustaining economic reforms and proactively preparing for potential negative economic trends. He attributed Ghana's current economic challenges, in part, to what he described as poor economic management practices. Specifically, he pointed to the depletion of strategic funds that were originally intended for critical purposes such as debt repayment, suggesting that such actions have exacerbated the nation's financial difficulties.