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Ghana’s economy poised for growth – Abena Osei-Asare

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The Minister of State at the Finance Ministry, Abena Osei-Asare, has expressed confidence in Ghana’s economic recovery, highlighting ongoing structural reforms aimed at sustaining recent growth.

Speaking at the inaugural Quarterly Economic Round Table (QER) at the ISSER Conference Hall on July 2, 2024, Osei-Asare emphasised government efforts to bolster economic gains.

She also highlighted efforts in stabilizing the Cedi against the US dollar, improving gross international reserves, and reducing public debt accumulation post-debt restructuring.

“The recent pressures on the Cedi are being contained, our gross international reserves are improving, fiscal consolidation is holding, and the rate of accumulation of public debt is declining following the successful completion of the debt restructuring programme,” she said.

“We are implementing key structural reforms to support growth. Just last Friday, the IMF board approved the second review and $360 million related to the programme was approved,” Osei-Asare said.

The QER, a collaboration between the Ministry of Finance and the University of Ghana, aims to promote evidence-based policy formulation under the theme “Restoring Macroeconomic Stability,” focusing on fiscal, debt, and monetary policies.

The International Monetary Fund (IMF) recently adjusted Ghana’s growth forecast for the 2024 fiscal year from 2.8% to 3.1%, attributing it to signs of economic stabilization.

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