Dr. Ernest Addison, Governor of the Bank of Ghana (BoG), has affirmed that Ghana’s economy is witnessing an upward trend compared to previous years.
Previously, the economy faced challenges, leading the government to seek a $3 billion bailout from the International Monetary Fund (IMF).
However, during his presentation to the Public Accounts Committee of Parliament on Monday, April 8, 2024, Dr. Addison credited various factors for the economic recovery, including the bolstering of foreign exchange reserves.
He expressed gratitude to Parliament for approving the addition of $300 million to Ghana’s reserves, a move aimed at fortifying the economy.
“For the economy as a whole, I can tell you that things are improving, our foreign exchange reserve levels are improving. Thanks to Members of Parliament who recently approved a facility, so $300 million was added to our reserves.
“All of that strengthens our position to support you [ the government] in executing these type of projects.”
When asked about the possibility of funding being allocated to aid ongoing projects, he stated, Rest assured that so long as the economy continues on the path that we are on, we should be able to help you [the government] deliver.”
