The purpose of structural adjustment program is to reduce poverty by creating wealth to advance the general well being of the citizenry and the global humanity. This requires a total transformation to change the way we were, the way we are and the way we will be in the future. The transformation or reformation in its totality must cover our cultural values. To have meaningful impact government must uphold democracy, rule of law and above all human rights. This must include economic, civil and social rights, national security, bureaucracy, civil and public service.
Under social rights education is of paramount important i.e. Human resource development, public and civil service reformation and training to enhance deeper understanding of fundamental issues of state.
Finally, economic rights of the citizenry:
Under this the banking sector reform and re-structuring to enhance a vibrant economy.
A strict agricultural revolution to generate food sufficiency and surplus.
Fiscall and financial discipline must be introduced to fight inflation and stabilize the nation currency against other currencies.
1. Promoting the private sector
Government of Ghana has continued implementing significant structural reforms to promote the private sector. Dialogue between the public and private sector has been broadened, foreign investment promotions were launched. Government has made progress in reforming the regulatory frame work accelerating and divestiture and liberalizing the financial sector and petroleum regulatory framework.
2. Regulatory Framework
Significant legislation to provide the framework for private sector participation in the economy was enacted: a very liberal investment act (with automatic approval of investments) was approved in 1994: the free zone act (to attract direct foreign investment was passed in 1995; the national communications act (permitting liberal entry of the private sector into communications sector) was approved in 1996....