The School of Economics of the University for Development Studies (UDS) on Tuesday, February 25, 2025, organized a public lecture on the theme “Whither Development? An Exposition of Ghana's Development Policy Choices and Outcomes and the Lessons Thereof.”

The lecture, delivered by veteran economist and Country Director of the International Growth Center (IGC), Dr. Nii Sowa, took place at the Nyankpala Campus of UDS and attracted a distinguished audience from academia, industry, and the student community.

In his welcome address, the Principal of the Nyankpala Campus, Prof. Mohammed Muniru Iddrisu, expressed delight at hosting the event. He underscored the Nyankpala Campus’ contributions to the university’s overarching development goals and emphasized the importance of such intellectual engagements in shaping policy discourse.

The Vice-Chancellor of UDS, Prof. Seidu Al-hassan, who chaired the occasion, commended Dr. Nii Sowa for accepting the invitation to speak. He highlighted Dr. Sowa’s remarkable influence in academia and the economic sector, stating, “Dr. Nii Sowa has taught and mentored many leading figures in Ghana, including the current Governor of the Bank of Ghana, the Deputy Governor, and the Director of ISSER at the University of Ghana. His wealth of experience makes him the perfect speaker for today’s discussion.”

The Dean of the School of Economics, Prof. Joseph Awuni, noted that the school intended to make the lecture series a regular feature on its academic calendar to enhance discourse on Ghana’s economic development.

An Examination of Ghana’s Development Path
Taking the stage, Dr. Nii Sowa provided a historical perspective on Ghana’s economic policy decisions from independence to the present. He recounted the challenges the country faced, particularly in the early 1980s, citing the 123% inflation rate in 1982, the devastating drought in the Sahel region, and the economic hardships that necessitated policy shifts. He detailed Ghana’s engagement with international financial institutions such as the International Monetary Fund (IMF) and the World Bank, highlighting the structural adjustment programs (SAPs) and their long-term impacts on the economy.

According to Dr. Sowa, Ghana’s policy choices over the years have oscillated between state-led and market-driven approaches. While some policies led to short-term gains, others resulted in economic downturns due to poor implementation and external shocks. He emphasized that Ghana's frequent recourse to the IMF is indicative of systemic economic weaknesses, stating, “Our reliance on external assistance shows a lack of fiscal discipline and sustainable economic planning.”

Lessons for the Future
Dr. Sowa urged policymakers to draw lessons from past economic experiences, stressing the need for fiscal discipline, investment in productive sectors, and sustainable debt management. He argued that Ghana must focus on industrialization, value addition to raw materials, and enhancing domestic revenue mobilization to achieve long-term economic stability. 

He concluded by cautioning against policy inconsistencies and the politicization of economic management, which, he noted, had often derailed progress.

Distinguished Audience
The lecture was attended by a distinguished gathering, including the Former Pro Vice-Chancellor of UDS, Prof. Felix Kofi Abagale, the Former Dean of the School of Economics, Prof. Samuel Donkoh, and several Deans and Directors from various schools and faculties. The audience also comprised students from UDS, Bagabaga College of Education and students from the Northern School of Business (NOBISCO).

The event concluded with an informal interactive session, where participants engaged Dr. Nii Sowa in a lively discussion on Ghana’s economic future. 

The lecture was widely regarded as insightful, sparking renewed interest in economic policy debates within the university community.

Story by:
Hamdan W. Amadu
UDS Media