The International Monetary Fund (IMF) has confirmed that Ghana’s economy is experiencing a rapid turnaround better than anticipated.
The Fund said macro-economic stability is being experienced while international reserves are witnessing a steady increase.
This was disclosed by the Fund’s Chief of Mission to Ghana, Stéphane Roudet, at a joint press conference with the Minister of Finance, Kenneth Ofori-Atta, on Friday, October 6.
“We also have the adjustment and fiscal position the Minister mentioned the numbers for June much better than the target,” Mr Roudet told the press.
“The external position in general is stronger, the currency has become much less volatile than what Ghana has experienced at the end of last year when it was a very challenging situation.
“So, clearly there is a turnaround, there is an improvement and signs of macroeconomic stability are now emerging.”
The IMF Mission Chief, however, cautioned the authorities not to be complacent but continue to keep the indicators going up.
“Again, this is not the end of the road [because] inflation is at 40 percent, everybody in this room wants to see it much lower.
“We coming from a position where inflation was 54 percent at the end of last year, so the travelling direction is certainly the right one and things are improving.”