Former Finance Minister Seth Terkper has been appointed by President Mahama as the Presidential Advisor on the Economy, a critical role in guiding the nation’s economic direction. Terkper will provide strategic advice on key areas including fiscal policy, debt management, and economic recovery strategies.
Many view his appointment as a strategic move to bolster the President’s economic team amidst the current challenges. However, concerns have arisen about potential power struggles between him and the current Finance Minister, who previously served as Terkper’s deputy. If well managed, Terkper’s appointment could strengthen the government’s capacity to tackle economic difficulties.
Terkper brings extensive experience to the role, having served as Finance Minister from 2013 to 2017. During his tenure, he led significant fiscal reforms, improved public financial management, and stabilized the economy. His efforts were crucial in securing Ghana’s Extended Credit Facility (ECF) program with the International Monetary Fund (IMF) and introducing the Energy Sector Levy Act (ESLA), which helped address energy sector debts.
His appointment comes at a crucial time for Ghana as the country faces rising inflation, growing public debt, and currency depreciation. Terkper’s experience and leadership will be vital in crafting policies to stabilize the economy, foster sustainable growth, and boost investor confidence. His role will be pivotal in shaping Ghana’s economic recovery and long-term development.
