The International Monetary Fund (IMF) has acknowledged that Ghana’s economy is showing signs of stabilisation, just a month after the approval of a $3 million extended credit facility.
Stéphane Roudet, who led the IMF staff team,
after the IMF Mission concluded its latest visit to Ghana, from Thursday, June 8 to June 15, cited softening inflation, an increase in international reserves, and a less volatile exchange rate as some of the positive indicators they observed during their recent visit to Ghana.
Mr Roudet stated that the Ghanaian economy is showing signs of stabilisation against a complex global economic backdrop.
“Against a complex global economic backdrop, the Ghanaian economy is showing signs of stabilization, with softening inflation, an increase in international reserves, and a less volatile exchange rate, ” he explained.
The IMF Mission also met with several key officials, including President Nana Addo Dankwa Akufo-Addo and Finance Minister, Ken Ofori-Atta, to discuss recent macroeconomic developments and take stock of the authorities’ progress in meeting their commitments under the Fund-supported program.
“We also took stock of the authorities’ progress in meeting key commitments under the Fund-supported programme,” Mr Roudet added.
Overall, the IMF’s observations indicate positive progress in Ghana’s economy.
By Vincent Kubi