Governor of the Bank of Ghana, Dr. Johnson Asiama, has claimed that the country’s economy was “back on track”.
This he noted has been achieved following months of policy discipline and reform.
He made the remarks while speaking at the IMF/World Bank Governor Talk Series in Washington, D.C., under the theme “From Crisis to Confidence: Ghana’s Journey to Macroeconomic Stabilisation,”
He posited that Ghana’s economy has made a firm recovery after years of instability.
“We came to meet a challenged economy in the sense that remember we had a domestic debt issue in 2022, fiscal policy was highly expansionary. It led to us exiting the international financial market. There was resort to domestic financing.
“We remember all the sovereign downgrades we had to suffer. We came into office with a lot of liquidity, high inflation, [and] an exchange rate that was depreciating widely,” he said.
He further revealed that discussions were held as to whether Ghana should cancel its IMF-supported programme, as doubts loomed over the country’s ability to meet its targets.
“And I remember when we came in there were talks about if we should cancel the programme altogether, there were doubts as to whether we will be able to carry on the programme.
“But I am happy to say that eight months down the road we have turned the corner. Ghana is back,” Dr. Asiama declared.
He said “growth has rebounded, inflation has cooled, and Ghana is now outperforming expectations under the IMF programme. Inflation, which stood at 23.5 percent in January 2025, has since dropped to 9.4 percent in September — the first single-digit rate in four years, beating the government’s 11.9 percent target.”
By: Rainbowradioonline.com/Ghana
