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
-
Irene Logan ties the knot in colourful ceremony
4 mins -
Alliance with other parties, not a merger – Alan Kyerematen
35 mins -
Ghana’s Mohammed Fuseini scores in Randers 2-2 draw Odense BK
42 mins -
We are behind schedule on flood control programme – Oppong Nkrumah
44 mins -
Jennifer Kankam scores five against Tala’ea El Gaish in ZED FC’s big win in Egyptian league
54 mins -
You won’t start at Hearts of Oak – Charles Taylor tells Erling Haaland
1 hour -
People have lost patriotism, passion for the nation – Sulemana Braimah
1 hour -
You can’t use context of past elections to determine what happens in 2024 polls- Alan
2 hours -
2024 poll: Don’t vote for Mahama; he has nothing new to offer – Afenyo-Markin
2 hours -
Saglemi Housing Project: Government promises transparency in divestiture
2 hours -
I don’t want to deceive myself as a politician – Alan Kyerematen
3 hours -
We will continue to provide more financing for Ghana despite not reaching agreement with Eurobond holders – IMF
3 hours -
Economic outlook for Sub-Saharan Africa including Ghana gradually improving – IMF
3 hours -
Ghana’s inflation to average 11.5% in 2025; policy rate expected to reduce sharply – IMF
3 hours -
Let’s prioritize research quality in higher education institutions for industrial growth-Prof. Nathaniel Boso
11 hours