The Integrated Social Development Centre (ISODEC) is set to organise a forum tomorrow, October 6, 2026, to examine alternative economic models that could provide practical solutions to Ghana’s current economic challenges.
The forum, which will bring together policymakers, researchers, financial-sector institutions, organised labour, political actors, civil society organisations, academia, the media, youth and other stakeholders, is expected to provide a platform for critical discussions on Ghana’s economic policy framework and possible alternatives.
The forum comes against the backdrop of decades of economic management influenced by external institutions, including the International Monetary Fund (IMF), the World Bank and other bilateral institutions, which have shaped Ghana’s macroeconomic policies through various programmes and structural adjustment measures.
According to ISODEC, although efforts are being made to strengthen local oversight of economic governance, there remains limited public understanding and participation in some of the processes that determine the fiscal rules guiding national planning and budgeting.
The organisation describes this situation as the “Black Box” of fiscal rules, arguing that citizens and their elected representatives need greater access to and understanding of the processes through which major economic decisions are made.
The upcoming forum therefore seeks to create a platform for stakeholders to interrogate these issues and explore alternative macroeconomic frameworks that could respond more effectively to Ghana’s economic realities.
As part of the forum, ISODEC is expected to present its work and perspectives on Functional Finance, Modern Monetary Theory, fiscal policy, employment and illicit financial flows (IFF).
Discussions will also consider the potential application of a Job Guarantee and other economic policy instruments as possible approaches to addressing economic and employment challenges.
The forum will further provide an opportunity for policy institutions and other stakeholders to offer perspectives and inputs that could help refine the proposed alternative economic models and assess their potential application in Ghana.
ISODEC also seeks to use the forum to strengthen the capacity and collaboration of civil society organisations, media and NGOs to engage more effectively in economic governance and exercise their oversight responsibilities.
The forum is expected to culminate in the development of refined and practical alternative macroeconomic frameworks grounded in approaches such as Functional Finance, Modern Monetary Theory and policy instruments including a Job Guarantee.
It is also expected to generate concrete recommendations and inputs from policy institutions while strengthening collaboration among CSOs, the media and other stakeholders advocating for greater transparency and citizen participation in economic governance.
Ultimately, the forum seeks to contribute to efforts to demystify the “Black Box” surrounding fiscal rules and create greater space for citizens and Parliament to participate meaningfully in discussions and decisions that shape Ghana’s economic policies.
Source: ISODEC Communications.
