Senior World Bank officials and Finance Minister Cassiel Ato Forson have discussed Ghana’s economic development strategy and initiatives to address unemployment, especially among young people.
The conversation with Paschal Donohoe, the World Bank’s Managing Director and Chief Knowledge Officer, centred on Ghana’s next stage of growth and tactics to maintain economic recovery while increasing employment prospects.
According to Mr. Forson, the government’s immediate priorities are changing from stabilising the economy to generating long-term job possibilities, particularly for youth.
He explained that although the previous year had been devoted to bringing the nation’s finances back to normalcy, the administration was now giving programs meant to boost jobs and growth top priority.
“A while ago, I had a productive discussion with the Managing Director and Chief Knowledge Officer of the World Bank, Mr. Paschal Donohoe, on Ghana’s economic transformation and the next phase of our development agenda,” he stated.
The Finance Minister claims that one of the biggest issues facing the nation is still unemployment, especially among young people.
“I noted that last year was focused on resetting the economy and placing it firmly on the path to sustainability. Today, one of our major challenges is unemployment, particularly among our youth,” he said.
Mr. Forson stated that Ghana was attempting to create initiatives that would encourage the growth of the private sector, pointing out that government jobs were insufficient to accommodate the expanding labour force.
“Africa has a rapidly growing youthful population, and it is clear that public sector employment alone cannot provide the opportunities our young people need,” he said.”
“We are therefore putting in place major policies and programmes to sustainably create jobs.”
For his part, Mr. Donohoe praised Ghana for making what he called “significant progress” in strengthening its financial position.
According to Mr. Forson, “He indicated that the World Bank stands ready to continue supporting Ghana, including through a Jobs and Growth Analysis that will help identify new opportunities for job creation,”
The Finance Minister expressed hope that the World Bank’s ongoing cooperation with Ghana will help the nation’s endeavours to increase economic possibilities.
“I welcome the World Bank’s continued partnership as we work to create jobs, expand opportunities, and secure a more prosperous future for our people,” he stated.
As the government works to address structural issues including unemployment and the expansion of the private sector while consolidating economic stability, the engagement is a part of continuing conversations between Ghana and international development partners.
Source: newsthemegh.com