Former Finance Minister Seth Emmanuel Terkper has been appointed as the Presidential Adviser on the Economy by President John Dramani Mahama. In this new capacity, Terkper will play a pivotal role in advising the President on key economic matters, including fiscal policy, debt management, and strategies aimed at stabilising Ghana’s economy. His extensive experience in economic management positions him as a critical figure in the country’s efforts to recover and achieve sustainable economic growth.
Terkper’s appointment comes at a crucial time for Ghana, as the country grapples with economic challenges such as rising inflation, mounting public debt, and a depreciating currency. A chartered accountant with a Bachelor of Commerce from the University of Cape Coast and a Master of Public Administration from Harvard University’s Kennedy School, Terkper previously served as Ghana’s Minister for Finance and Economic Planning from 2013 to 2017. His wealth of experience in economic governance is expected to be instrumental in addressing the current economic difficulties and formulating effective policies for recovery.
During his tenure as Finance Minister, Terkper spearheaded crucial fiscal reforms, including the implementation of the Energy Sector Levy Act (ESLA) to address the energy sector’s debt and improvements in public financial management. He also led negotiations for Ghana’s Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF), which played a pivotal role in stabilising the economy during a challenging period. Prior to his ministerial role, Terkper spent a decade at the IMF, where he served as Senior Economist in the Fiscal Affairs Department. His career further includes consulting for prestigious organisations such as the African Development Bank and the UN Committee of Tax Experts.
In his new role as Presidential Adviser on the Economy, Terkper will work closely with Finance Minister-Designate Dr Cassiel Ato Forson to implement policies aimed at fostering economic growth, stabilising the macroeconomic environment, and boosting investor confidence under the Mahama administration. His expertise and experience are expected to be key in guiding Ghana’s economic recovery.
