Audio By Carbonatix
The International Monetary Fund (IMF) has given Ghana's economy a clean bill of health.
According to an IMF team which is in the country for Article 4 Consultations, Ghana's economy remains favourable.
The team on Wednesday met with the Finance Committee of Parliament as part of its mission.
The discussions, amongst others, centered on macroeconomic performance, revenue mobilisation, the financial sector clean up and matters bordering on Ghana's exit of the ECF program.
Addressing the media after the meeting, chairman of the Finance Committee, Dr Mark Assibey-Yeboah disclosed that the IMF is impressed with the management of the economy post the country's three-year ECF program with the fund.
"They said the macroeconomic situation remains favorable. Those were the words of the Mission Chief. He said the projected GDP growth for 2019 is 7%, a reduction from the original 8.8%.
“Inflation is now at 7.8% and if you look at the trend over the past 13 months or so it's not expected to rise". Dr Assibey-Yeboah stated.
Dr Assibey-Yeboah further disclosed that the IMF team praised Ghana for the smooth nature in which it has undertaken the banking clean-up exercise.
"As regards the banking sector clean-up, what I gathered from them is that the whole process has been smooth and it really amazes them.
“For you to resolve all these banks, microfinance institutions and S & L's within a short period and still have financial stability, those at the helm must be doing something fantastic. What they have achieved is amazing", he added.
"They said the macroeconomic situation remains favorable. Those were the words of the Mission Chief. He said the projected GDP growth for 2019 is 7%, a reduction from the original 8.8%.
“Inflation is now at 7.8% and if you look at the trend over the past 13 months or so it's not expected to rise". Dr Assibey-Yeboah stated.
Dr Assibey-Yeboah further disclosed that the IMF team praised Ghana for the smooth nature in which it has undertaken the banking clean-up exercise.
"As regards the banking sector clean-up, what I gathered from them is that the whole process has been smooth and it really amazes them.
“For you to resolve all these banks, microfinance institutions and S & L's within a short period and still have financial stability, those at the helm must be doing something fantastic. What they have achieved is amazing", he added.DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Livestream: Newsfile discusses Constitution review report and AG’s ORAL drive
15 minutes -
Michael Adangba Legacy Music Festival pulls huge crowd for maiden edition
26 minutes -
MTN spreads Christmas cheer to newborns in Takoradi hospitals
28 minutes -
Kumawu MP celebrates Christmas with drivers and riders
1 hour -
DeThompsonDDT earns six major nominations at 2025 Western Music Awards
2 hours -
Kumawu MP shares Christmas with aged, widows in constituency
2 hours -
Even Dangote cannot escape katanomics
3 hours -
Sean ‘Diddy’ Combs files appeal asking for immediate prison release
3 hours -
Come again, Bank of Ghana!
3 hours -
How presidential control has weakened Council of State – Prof H. Kwasi Prempeh explains
4 hours -
Why Council of State must be fixed, not scrapped – Constitution Review Chair explains
4 hours -
A second look, not a veto – Constitution Review Chair makes case for Council of State reform
4 hours -
U.S. airstrikes in Nigeria signal major shift in West African security
5 hours -
Too young to lead? – Prof H. Kwasi Prempeh says Ghana’s Constitution undervalues its youth
5 hours -
Let the people decide – Constitution Review Chair pushes back against fear of ‘young presidents’
5 hours
