Dr. Ernest Addison, the Governor of the Bank of Ghana (BoG), asserts that Ghana’s economy is experiencing an upward trend compared to previous years.
Following a period of decline, which led the government to seek a $3 billion International Monetary Fund (IMF) bailout, Dr. Addison attributed the economic turnaround to several factors, including the bolstering of foreign exchange reserves.
He commended Parliament for approving the addition of $300 million to Ghana’s reserves, a move aimed at enhancing the economy’s strength.
“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 [government] in executing these type of projects.”
When queried about the possibility of payments being made to aid in the execution of ongoing projects, he said, “Rest assured that so long as the economy continues on the path that we are on, we should be able to help you [government] deliver.”