The Association of Ghana Industries (AGI) has expressed unhappiness about the management of the Ghanaian economy, saying, the current economic challenges could have been avoided.
It has however welcomed the government’s decision to seek economic support from the International Monetary Fund.
According to its Chief Executive, Seth Twum Akwaboah, the intervention from the IMF is necessary to bring back stability to the macroeconomic front.
“Things have not been that smooth. Everything is going high which means there is instability in the macroeconomic environment”, he tells Joy Business.
“We are not happy we've gotten to this point, but I think we have gotten to a stage we don't have much choices. If you want to bring stability and you are borrowing at such a high-interest cost, then it's difficult to bring the stability that you need”, he pointed out.
To him, AGI supports government’s intervention from the IMF, saying, “What is important is we look beyond the IMF and also the kind of negotiations we do will be important because we don't know their conditionalities now”.
“We need to negotiate properly and bring the stability we need in the Ghanaian economy”, he added.
Mr. Akwaboah urged government to exhibit fiscal discipline going forward.
AGI’s position, I don't think is different from what others have said. We believe that industries and businesses need stability in the macroeconomic environment. This affects your planning and business development agenda.
Latest Stories
-
R. Kelly’s sex abuse conviction in Chicago upheld in appeals court
6 mins -
Azumah Nelson returns to the ring to face EU Ambassador in a match to empower youth
10 mins -
UEFA U-16 Tournament: Black Starlets come from behind to beat Kazakhstan 5-1 in final game
20 mins -
Every worker in Ghana must be concerned about ILO’s report on SSNIT – GNAT President
28 mins -
Amerado falls after stage collapses during performance
30 mins -
Akosombo Dam: JoyNews highlights victims’ harsh living conditions post-spillage
31 mins -
World Safety Day: Zoomlion addresses the impact of climate change on occupational safety
1 hour -
Sean ‘Diddy’ Combs seeks to toss portion of sexual assault civil suit
1 hour -
We’ve saved $57.9m from procurement of BVDs, BVRs – EC insists
1 hour -
Catholics hail Bawumia for religious diversity after visit to Pope Francis
1 hour -
We’ll address all internal issues before December polls – Stephen Ntim assures NPP
1 hour -
NPA boss re-elected as President of African Refiners and Distributors Association
2 hours -
Today’s front pages: Monday, April 29, 2024
2 hours -
Ejisu by-election: I’m not an NDC member; address internal issues bothering your members – Aduomi to NPP
2 hours -
Ghana among top African countries with highest Schengen Visa rejection rates
2 hours