The Bank of Ghana and the West African Institute for Financial and Economic Management (WAIFEM) have underscored the critical role of robust macroeconomic diagnostics in ensuring effective policy and economic stability across the West African subregion.
Speaking at the opening of the IMF/WAIFEM Regional Course on Macroeconomic Diagnostics in Accra, the Special Advisor to the Director of Research at the Bank of Ghana, John Kotoku, delivered remarks on behalf of Governor Dr. Johnson Asiama.
He stressed that macroeconomic diagnostics serve as the compass for guiding policy decisions, cautioning that without them, even the best-intentioned measures risk drifting off course.
“Robust macroeconomic diagnostics are not just a technical exercise; they are what guide policy. With them, recovery and transformation become achievable realities,” Mr. Kotoku said on behalf of the Governor.
Director General of WAIFEM, Baba Y. Musa, also urged member states to prioritize stability across all sectors of their economies.
He explained that without stability, the foundations for growth and sustainable development in the region would remain fragile.
“Member states must ensure stability across all sectors. Without it, the foundations for growth will remain fragile,” Dr. Musa emphasised.
The IMF/WAIFEM Regional Course on Macroeconomic Diagnostics is bringing together policymakers and technical experts from across West Africa to strengthen their capacity in diagnosing economic challenges and formulating effective policy responses.