The Governor of the Bank of Ghana, Dr. Johnson Asiamah, has announced that Ghana has regained macroeconomic stability after years of battling high inflation and liquidity challenges.
He made this known during a panel discussion at the International Monetary Fund (IMF)/World Bank Annual Meetings in Washington, D.C., themed “From Crisis to Confidence: Ghana’s Journey to Macroeconomic Stability.”
According to Dr. Asiamah, Ghana’s economic fundamentals have improved significantly, with inflation dropping from 24 percent to a single-digit rate of 9.4 percent—a development he described as a “major turnaround” in economic management.
“It’s been eight months since we came into office, and we inherited a challenged economy marked by domestic debt issues, expansionary fiscal policies, and high inflation. There were doubts about whether we could sustain the IMF programme, but I’m happy to say that eight months down the road, we have turned the corner. Ghana is back,” he said.
He also revealed that Ghana is performing ahead of the targets set under the IMF-supported economic reform programme for the year.
“We have seen a strong rebound in growth. We are running ahead of programme targets for the year on almost every front,” he stated.
Dr. Asiamah expressed appreciation to the International Monetary Fund (IMF) for its timely support during one of Ghana’s toughest economic periods, emphasising the country’s continued commitment to fiscal discipline and policy reforms.
“Let me take this opportunity to thank the IMF for their tremendous policy support. They have walked with us through this journey, and we intend to continue working closely with them,” he added.
—
Story by Sandra Abena Bansah | univers.ug.edu.gh
Edited by Oliver Arthur Acorlor and Gabriel Tecco Mensah
