{"id":230704,"date":"2025-10-17T04:42:09","date_gmt":"2025-10-17T04:42:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/230704\/"},"modified":"2025-10-17T04:42:09","modified_gmt":"2025-10-17T04:42:09","slug":"ghanas-economy-is-back-on-track-bog-governor-declares-at-imf-world-bank-talks","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/230704\/","title":{"rendered":"Ghana’s economy is “back on track” \u2014 BoG Governor declares at IMF\/World Bank talks"},"content":{"rendered":"

Governor of the Bank of Ghana, Dr. Johnson Asiama, says Ghana\u2019s economy has made a firm recovery after years of instability, describing the country as being \u201cback on track\u201d following months of policy discipline and reform.<\/p>\n

Speaking at the IMF\/World Bank Governor Talk Series in Washington, D.C., under the theme \u201cFrom Crisis to Confidence: Ghana\u2019s Journey to Macroeconomic Stabiliastion,\u201d Dr. Asiama reflected on the state of the economy when he assumed office.<\/p>\n

\u201cWe 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.<\/p>\n

\u201cWe 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,\u201d he said.<\/p>\n

<\/a><\/p>\n

He disclosed that at the time, there were even discussions on whether Ghana should cancel its IMF-supported programme, as doubts loomed over the country\u2019s ability to meet its targets.<\/p>\n

\u201cAnd 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.<\/p>\n

\u201cBut I am happy to say that eight months down the road we have turned the corner. Ghana is back,\u201d Dr. Asiama declared.<\/p>\n

The Governor added that \u201cgrowth 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 \u2014 the first single-digit rate in four years, beating the government\u2019s 11.9 percent target.\u201d<\/p>\n

Dr. Asiama reaffirmed the central bank\u2019s commitment to sustaining macroeconomic stability through prudent policy management and market confidence restoration.<\/p>\n

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