Tread cautiously Mr President

Wednesday, April 26, 2017

The new government under the leadership of President Barrow has decided to lift restrictions on importation of such essential commodities as onions and potatoes, with an inducement of tax cut on imported items like flour.

While it is of the view that this move is geared towards reversing the directives of former President Jammeh as well as pursuing an “open door policy and liberal economy”, the direct impacts and or side effects on the economy and lives of the people are dire.

The fact of the matter is that a nation that depends excessively on the produce of other nations, in other words imported food items, to feed itself is outright vulnerable to external market shocks and all manner of dangers.

Its economy, growth and development are under the control and mercy of other nations.

Whereas its importation bill continues to go into the stratosphere as against a meager exportation, unable to generate the much needed foreign exchange to achieve some balance of payments at the international market, that nation or government is doomed, as it will surely face economic catastrophe.

With high importation bill over the meager income generated from whatever exports there are, a nation’s currency is bound to depreciate woefully, leading to price rise, runaway and hyperinflation.

Our people, the formers, particularly our poor gardeners and mothers, who  depend on income generated from the sales  of their produce  such as onions, potatoes and the like, have been placed on the  losing end under such unguarded open door policy and liberal economic stride.

Some of them have started crying and raising eyebrows after hearing your move to lift the ban on the restrictions of importation of such produce or food items, although it is done in the light of maintaining a an open door policy and liberal economy in the face of economies that are highly industrialized and well equipped to dominate the market of such items now and seemingly forever.

The government would therefore have to crack a thorough balance when it comes to building and maintaining a sound and thriving economy that can stand the test of time.

Supporting homegrown produce and manufacturing as well as building a productive economy is the sure way to attaining a better income generation, job creation, foreign currencies and good living condition for the masses of our people in this country.

“A simple click can cause a great harm”

Ernest Agyemang Yeboah