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After a successful program with the International Monetary Fund (IMF), President Addo Dankwa Akufo-Addo is thrilled that his government will be allowed to return to the capital market to borrow additional money.
The sooner Ghana adopts taking advantage of global savings, the President claims, even though his administration has stressed the need to avoid rushing to the capital market.
President Akufo-Addo stated that signing the IMF agreement provides the foundation for Ghana’s economic recovery at a one-on-one meeting at the Qatar Economic Forum on Wednesday, May 24, 2024.
“However, it’s over, and now we think that it will serve as the strong foundation for repositioning the economy and guiding it in order to first return the lost micro stability.
“Secondarily, to position us to be able to go back into the foreign capital market, which has been a source of finance for us for the first three or four years of our government, and finally, to be able to have the best control over importing data like the interest rate, inflation, and eventually.
“There is no urgency to return, but certainly, why can’t we benefit from global savings? The sooner we can do that, the better, he thought. “It makes a lot of sense to be able to do that.
He also commended Ghana for securing its facilities in a record-breaking 10 months.
“In reality, the 10 months that the Ghanaian program took to complete was one of the quickest on record. The exchange of data, agreements, and ensuring that the micro indices you’re looking for are moving in the proper direction are just a few of the many processes it must go through, he said.
By Owusu Boateng Quansah |Locotvgh.com