World Bank warns Ghana of tough times in restoring macroeconomic sustainability
World Bank Country Director for Ghana, Sierra Leone and Liberia, Pierre Laporte, has said Ghana faces a tough time in its bid to restore macroeconomic sustainability.
According to Mr Laporte, this is due to the country’s dire economic situation.
“Is it a really situation? Well, the numbers speak for themselves. The situation is very serious, at the World Bank, we’ve not hidden the fact when we’ve held discussions with government officials and even the head of state that, Ghana faces a very tough road ahead to restore macro sustainability.
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“Yes, Covid-19 has not helped, but even before Covid, there were signs that the situation was getting a little bit challenging. So, the key thing is to be transparent with the people. Yes, the figures speak for themselves, but not everybody is as educated as we are. Not everyone understands what the numbers mean, so it is important to talk about it like we are doing. More important is for us to find solutions for the problem,” he opined.
Mr Laporte made the assertion speaking at a public lecture organised by the OneGhana Movement on Monday, March 7, 2022.
Meanwhile, on the international capital markets, investors have signaled uncertainty about Ghana’s economic outlook and prospects.
Key rating agencies such as Moody’s and Fitch have downgraded Ghana’s creditworthiness.
