Dr Mahamadu Bawumia, the Vice President was the Guest Speaker at the Standard Chartered Bank Digital Banking, Innovation and Fintech Festival in Accra on Wednesday, October 26, 2022.
He underscored that the global economic environment is transitioning into the Fourth Industrial Revolution where the digital economy is taking centre stage.
He stressed, “so as we try to deal with the economic crisis globally, economies also have to re-position themselves to partake in the Fourth Industrial Revolution”.
Dr Bawumia indicated that Government is considering a number of measures to tackle the current economic challenges and ensure fiscal and debt sustainability.
“We would also implement measures to further support domestic production and reduce imports, as well as tighten our current foreign exchange regime to prevent leakages. President Nana Addo Dankwa Akufo-Addo would be addressing the nation in the coming days and will provide details of these measures to address the current economic challenges” he stated.
The Vice President added that there is no doubt it is not going to be easy. It will require very bold, difficult, but firm decisions and these are part of the discussions that the government is having with the IMF.
“It will not be business as usual because there have to be some fundamental adjustments to the new global and domestic realities” he added.
Source: Mybrytnewsroom.com/Kwabena Nyarko Abronoma
