2051: Is Ghana ready for its new economic regime?

The first government official communique of the year signed by General I. Azikiwe-Koomson, head of Ghana Borders and Ports, notes that the last tranche of government assets, the coastal shore line has been sold to foreign investors under the IMF's Absolute Divestiture Programme.

Since there are no longer any assets open to state capture, the General says the only way for the government to take care of its financial obligations is to focus on effective tax collection from businesses, employers and employees, and to make sure that the right import duties are levied at all the points of entry.

The government also derives derisory returns from its golden shares in a few state enterprises that were privatised decades ago.

Next week a delegation of ministers, government and municipal officials will travel economy class to three countries, on a fact-finding mission as to how countries without any reliance on national assets manage their economies.

As per the new initiative, each delegate is expected to comply with the directive to write a report on the findings from the visit. Copies go to the administrative head and the Ministry for Evaluation and Implementation.

For the last three months, members of the Parliamentary Economic Sustainability Committee have been trashing out the 2052-55 Economic Development Plan.

These committee meetings have been taking place without any sitting allowance provided, as they take place during normal parliamentary working hours.

This is the first republic where ministers do not have any national assets to capture and MPs are not allowed sitting allowance for normal committee business. Also, for the first time, parliamentary ex-gratia payments will only be made out to MPs who lose their seat.

The citizenry, particularly economic pundits, are looking forward to seeing the first budget by the minister for Economic Affairs, particularly as the Absolute Divestiture Programme prohibits use of foreign donor input to balance national budgets.

By the end of the year, Ghanaians will know how well the government has fared under this new economic regime.