Audio By Carbonatix
President John Agyekum Kufuor on Tuesday asked the entire Ghanaian society to be committed to higher levels of discipline, increased productivity and the pursuit of excellence to break new grounds to push the national economy forward.
The Government on its part, he said, was determined to ensure sustained and realistic balance of enhanced incentive system and continued good governance.
Additionally, it would see to it that the needed supervisory and national regulatory mechanisms were firmly in place.
President Kufuor was speaking at an Economic Roundtable held at the M. Plaza Hotel in Accra.
The event, organised by the Economist Conferences, a division of the Economist Intelligence Unit, brought together key Economic Ministers, the Governor of the Bank of Ghana, foreign investors and local business leaders to exchange ideas on the development of the private sector.
It provided a platform for the participants to closely examine the main challenges and opportunities for business and the most promising investment sectors and provided answers to some key questions.
President Kufuor, whose address was on the theme: "Fifty years of Independence: Where to now?" stated that, the country had now achieved reasonable measure of macro-economic stability and economic growth.
Inflation and banks' lending rates continue to drop from very high levels of over 40 percent and over 50 percent, respectively, in 2001 to current inflation level of around 10 percent and lending rate of 19 percent.
"With this new confidence, the country is taking some bold and measured steps into the international capital market with issuance of bonds to raise funds for investments in infrastructure development and for the development of the energy sector."
President Kufuor said this should remove the structural bottlenecks within the economy and put it on a trajectory of accelerated growth.
The success of this measure should help to wean Ghana from its dependence on donor aid to self-sufficiency.
He mentioned the establishment of the International Financial Services Centre in partnership with the Barclays Bank, as another significant step taken, and expressed optimism that with time, this would make the nation a major international financial hub of the West Africa Sub-Region.
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.
Tags:
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
-
Muzic Mensah selected for Boomplay’s inaugural ‘NEXT WAVE’ Programme
3 hours -
Prime Insight to tackle legal vacation controversy and $1million AKSA bribery case
3 hours -
Ghanaian evacuee from South Africa dies on arrival in Accra
3 hours -
POS Foundation raises alarm over student cohabitation, sexual harassment on university campuses
4 hours -
Nandom NPP primary heats up as four candidates enter 2028 race
5 hours -
Mangione admits killing healthcare CEO and pleads guilty to federal charges
5 hours -
The Invite to The Odyssey: 12 of the best films of 2026 so far
5 hours -
Ayra Starr on her secret relationship and teasing Stevie Wonder
5 hours -
NPP Ashanti holds vigil in support of Wontumi as lawyers appeal conviction
5 hours -
TCDA targets higher crop yields as farmers receive inputs
5 hours -
Kofi Amoako Attah inducted into 11th Corporate Ghana Hall of Fame
6 hours -
Newsfile to discuss AKSA energy deal, legal vacation and GoldBod losses
6 hours -
Gushegu MCE says slain Yiidana was targeted as police investigate killing of chief and son
6 hours -
President Mahama reiterates commitment to link regional capitals with good roads
6 hours -
Ex-Cambridge professor at centre of plagiarism row found dead
6 hours