The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, in a recent submission to the BBC, revealed that the fundamentals of Ghana’s economy are resilient and strong and not as weak as perceived to be.
he said :
As we speak right now, I am still trying to find any major country that has been able to battle inflation. It’s not just inflation but growth. Our economy has been growing despite the fact that inflation is at that level. Our economy is very different from those economies.
“We’re seeing larger economies also riling now, like Nigeria. We’ve seen that the US economy has inflation at a 40-year high; we’ve seen the UK economy [with] the same problem; the same with Canada.
“Let me point out a few things to you; prior to COVID, our economy was probably one of the fastest growing in the world.” Even in the COVID times when many economies were riling, the Ghanaian economy grew by 0.5%, but it was still positive.
I saw an article written by an economist which says that ‘isn’t President Akufo-Addo or Ghana going back on its word on Ghana Beyond Aid?’ Absolutely no!
“We are not going for aid, free money. We are all members of the IMF, so we put money there. It’s like a lender of last resort, “