Ghana’s economy showing signs of stabilisation – IMF

After hardly a month has passed since the Executive Board approved the $3 million extended credit facility (ECF), a staff team from the International Monetary Fund (IMF) led by Stéphane Roudet has admitted that Ghana's economy is on the verge of making a comeback.

He mentioned a decline in inflation, an increase in international reserves, and a reduction in the currency rate's volatility as some of the signs that were observed in the most recent couple of weeks.

Following the conclusion of the IMF Mission's most recent trip to Ghana, which took place from Thursday, June 8 through Monday, June 15, Mr. Roudet made the comment.

During the course of the visit, we talked about recent events in the macroeconomy, he stated.

The Ghanaian economy is showing indications of stabilization, despite the challenging global economic environment, as seen by a decline in inflation, a rise in international reserves, and a less volatile exchange rate.

The mission from the International Monetary Fund met with a number of government officials, including President Nana Addo Dankwa Akufo-Addo, Vice President Dr. Mahamudu Bawumia, Finance Minister Ken Ofori-Atta, and Governor of the Central Bank Dr. Ernest Addison.

According to what Mr. Roudet had to say, "we also took stock of the progress the authorities had made in meeting key commitments under the Fund-supported programme."