About five months after the 2025 National Economic Dialogue, the World Bank has thrown its support behind the outcomes of the event, insisting that the findings have the potential to transform the economy.
The World Bank says the findings from the 2025 NEC could be a turning point for the country’s economy if well-implemented.
In its latest 2025 Policy Notes on Ghana, the Bretton Woods institution remarked that, should the outcomes be fully and well-implemented, the economy will experience massive economic growth, which can also translate into poverty reduction.
The Dialogue, which brought together government, business leaders, and civil society, outlined a roadmap that blends new governance and institutional reforms with strong macroeconomic and social policies.
However, the bank says success won’t come overnight, stressing that Ghana must find the right balance.
In the short term, the government must stabilize the macroeconomy by tackling inflation, debt, and currency pressures. In the medium term, priority should be given to ensuring businesses and jobs recover.
In the long term, the government must drive structural reforms that diversify the economy and make growth sustainable.
To put it simply, the World Bank believes the 2025 NEC presents a rare opportunity to fix its economy in a way that creates jobs and reduces poverty, but only if leaders follow through with discipline and accountability.
“The 2025 National Economic Dialogue recognized the urgent need to ‘reset’ the economy, through new governance and institutional reforms, alongside comprehensive macroeconomic, structural, and social policies.7 If successfully implemented, the government’s vision can achieve the goal of broad-based growth and poverty reduction,” the Policy Notes cited by The High Street Journal noted.
It added, “A successful implementation would require a delicate balance between short-term macroeconomic stabilization, medium-term economic recovery, and long-term structural transformation in a sustainable manner.”
Judging from the World Bank’s remarks, the reset agenda was enhanced by the outcomes of the National Economic Dialogue. With the findings endorsed by the World Bank, it appears the country is on the right path to propel growth and reduce poverty levels.
However, Ghana’s problem has also always been a deficit of implementation and not ideas. Until the government is able to properly and fully implement the outcomes, the country will continue to move in circles.
