Finance Minister hails Ghana’s economic resilience amidst global turbulence
Finance Minister, Dr. Mohammed Amin Adam, delivered a message of optimism at the recent FirstBank Ghana Dinner, highlighting the nation’s robust economic trajectory amidst a backdrop of global turbulence.
In a compelling address, Dr. Adam underscored Ghana’s steadfast progress and resilience, contrasting it with the challenges plaguing economies worldwide.
Amidst the current economic uncertainties, Dr. Adam’s confidence in Ghana’s recovery resonated strongly. He lauded the nation’s remarkable strides towards accelerated growth and development, attributing these achievements to the unwavering commitment and sacrifices of the Ghanaian populace.
“I say it everywhere with confidence that the recovery of our economy has been strong. And we must be proud that whilst other countries are still crying with no sense of direction, Ghana’s economy is on the right path to accelerated growth and development for our people,” he quipped.
A key pillar of Ghana’s economic resilience, according to Dr. Adam, has been the adept management of inflation under the stewardship of Dr. Ernest Addison, Governor of the Bank of Ghana.
Noteworthy was the significant downturn in inflation over the past year, a feat recognized by the International Monetary Fund (IMF) during their recent review mission.
The Minister’s address also shed light on Ghana’s positive appraisal by the IMF, with most performance criteria and benchmarks being met, culminating in a staff-level agreement. This, Dr. Adam asserted, underscored the collective sacrifices made by the Ghanaian people in rebuilding the economy.
“Our improvement in economic performance was affirmed by the IMF team during the second review mission recently conducted in Ghana. Most of the quantitative performance criteria, if not all, the indicative targets, and the structural benchmarks, were met. This paved the way for us to reach the level called a staff-level agreement,” he posited.
Dr. Adam extended gratitude to the banking sector for its instrumental role in Ghana’s economic resurgence, calling for continued collaboration to ensure sustained growth.
In a call to action, Dr. Adam urged banks to prioritize social impact alongside profitability, advocating for products and services that address societal needs and uplift marginalized communities. Such endeavors, he argued, would align with the government’s vision of fostering economic prosperity while leaving no one behind.
In his closing remarks, Dr. Mohammed Amin Adam painted a vision of a bright economic future for Ghana, buoyed by collective effort and unwavering resolve. His words echoed not only confidence but also a steadfast commitment to steering Ghana towards a path of sustained growth and inclusive prosperity in the face of global uncertainties.
