Government has assured investors and the global community that the economy is strong and robust and efforts to achieve the deficit and revenue targets were also well on track.
The Minister of State at the Ministry of Finance, Mr Charles Adu Boahen, who gave the assurance at the Graphic Business/Stanbic Bank Breakfast Meeting in Accra on Tuesday, November 2, 2021, said Ghana's economic fundamentals were well robust today as they were three-to-four months ago.
He, therefore, asked investors selling off Ghana's bonds in the international market to rethink their action as the sentiments driving those moves did not reflect the true state of the economy.
He said while the government was concerned about the "heightened sell-off" of Ghana's bonds, it was confident that the situation would normalise in the coming days as bondholders get to appreciate the realities in the economy.
"I'm sure you all notice the global sell-off in our Eurobonds in the international stock market. There's been a general sell-off but I am sure those of Ghana has been quite pronounced."
"It is a situation that is of concern," he said at the event meant to proffer solutions to the changes facing the economy ahead of the presentation of the 2022 Budget.
"I want to assure the audience that nothing fundamentally has changed; were still on track to meet our deficit, we are still on track to meet our revenue target for the year."
"We believe that the market's reaction is not based on the fundamentals, which are still as robust as they were three-to-four months ago," Mr Boahen said.
Latest Stories
-
Appiatse reconstruction: Support Bawumia to do more for Ghana – Richard Ahiagbah to Ghanaians
7 mins -
I wanted Harry Kane at Man United – Ten Hag
8 mins -
Ayorkumi: Stage play on slave trade premieres on May 11
9 mins -
Majority defends GRA-SML deal, insists no wrong was done
16 mins -
Church Of Pentecost disburses educational sponsorships worth ¢14,281,540 million
17 mins -
Money Summit: Fidelity Bank’s Atta Gyan calls for a rethink on investment strategies
32 mins -
WPL 2023/24: Battle for glory as Northern and Southern zone clubs chase playoff spots
40 mins -
Ghana’s Press Freedom Index improvement nothing to write home about – Sam George
47 mins -
Ghana Wellness and Healthcare Awards slated for June 14
51 mins -
OSP begins investigation into alleged bribery of EC staff by Kwadaso MP
56 mins -
Ghana FA laud Coach Zito with standing ovation after Dreams FC’s exploit in Africa
57 mins -
Asantehene worried over brain drain in African contemporary arts
1 hour -
Hearts of Oak legend berates current players for poor form
1 hour -
Unless EC has rules against officials receiving lunch money, nothing can be done in ‘envelope scandal’ – Prof Agyeman Duah
1 hour -
Singer Ayra Starr releases artwork, track list for ‘Sophomore Album’
2 hours