US Treasury Secretary, Mr Henry M. Paulson, has given high marks to Ghana for moving beyond donor support to venture into the capital market.

This, he noted, was an important economic decision that would help to speed up the pace of the country's development.

Mr Paulson, who is in Accra as part of a five-day mission to Africa to promote economic opportunities, jobs and investment, said this when he held discussions with President John Agyekum Kufuor at the Castle, Osu, on Monday.

He had earlier met with the Minister of Finance and Economic Planning and visited the Ghana Stock Exchange.

"My visit, Mr President, is to underscore the outstanding leadership by you and your Finance Minister. Ghana has opportunities for investment."

The US Treasury Secretary said he was impressed with the performance of the Ghana Stock Exchange, noting that it had earned a good image not only in Africa but the world at large.

There have been good returns for those who have invested there within the last two years.

President Kufuor said the Government was encouraged by the acknowledgement of its management of the economy.

The visit to the Stock Exchange, he said, showed that it was moving in the right direction.

President Kufuor also met with the President of the African Development Bank (AfDB), Mr Donald Kaberuka, and reiterated the Government's determination to stay the course of the financial discipline that has brought stability and led to the growth of the economy.

"We will continue to submit to the discipline of our economy, despite the coming 2008 general elections."

He called on the Bank to hasten the release of funds for infrastructure development, particularly roads.

It should also assist the country to restore its railway system, an investment, President Kufuor said, would pay back quickly.

He said the coming into the country of the US Treasury Secretary and the AfDB President, were significant and should help to clear any doubts about the strong performance of the economy.

Mr Kaberuka urged the Government to continue to maintain financial discipline, saying, Ghana was on course to becoming a middle-income country and the capital market was responding well.

He said the bank would help to boost the capacity of the country's financial infrastructure.

Meanwhile, Gabon's Foreign Minister, Ms Laure Olga Gondjout, was also at the Castle to convey a message of sympathy and solidarity from the Gabonese President Omar Bongo to President Kufuor for surviving last Wednesday's car crash.


Source: GNA