Goosie Tanoh, Presidential advisor on the 24-hour Economy
Goosie Tanoh, the Presidential Advisor, has disclosed that the country’s treasury “is alarmingly empty,” complicating efforts to address pressing economic challenges and fulfill campaign promises.
The Presidential Advisor on the 24-Hour Economy described the fiscal situation of the country as dire, with “zero financial reserves and a debt-laden economy struggling to regain the trust of international lenders.”
Tanoh made these remarks during a keynote address at the African Centre for Governance and Economic Management Symposium.
The Presidential Advisor attributed the crisis to systemic mismanagement, institutional collapse, and reckless spending under previous administrations.
He highlighted Ghana’s strained relationship with global financial institutions, citing the country’s recent default and eroded credibility.
“Commercial banks, development partners, and grant agencies are unwilling to trust the Ghanaian state due to our past record over the last eight years,” he said.
Tanoh noted that the situation has compounded the difficulty of securing funds for recovery efforts.
He criticized the systematic weakening of state institutions, which he claimed were “overwhelmed by unqualified appointees” under the previous government.
He said institutions designed to ensure accountability had been dismantled, exacerbating corruption.
Tanoh outlined immediate priorities, including plugging revenue leakages—estimated at over $1.5 billion annually—in sectors such as gold and tax administration to address the fiscal crisis.
He noted that the new administration would prioritize grassroots concerns, job creation, and food security.
The Presidential Advisor asserted that the government’s proposed “24-Hour Economy Plus Programme” aims to revitalize strategic value chains in agriculture, industry, and the creative sectors.
He added that the program also seeks to strengthen banking and infrastructure services to support local production.
The initiative would focus on measurable targets to reduce import dependency and boost exports.
Tanoh called for a “total national mobilization” to revive Ghana’s economy, urging citizens to actively engage in the recovery process.
He pledged regular town hall meetings, media briefings, and digital updates to foster transparency.