Ghana can be one of the fastest-growing economies in 2020 if things are done right - IFC

Ghana can be one of the fastest-growing economies in 2020 if things are done right - IFC

- IFC Vice President for the Middle East and Africa, says Ghana's financial performance on the right path

- According to him, the IFC's predictions about Ghana’s prospects for 2020 were based on the trajectories that the government had been taking in terms of policies and reforms that had allowed the growth of the economy

- Mr. Pimenta urged the government to continue with the sound economic policies, especially the fiscal discipline

The International Finance Corporation (IFC) has predicted that Ghana will be one of the fastest growing economies in the world by 2020.

The IFC Vice President for the Middle East and Africa, Sérgio Pimenta, believes this is possible if a prudent economic management system is put in place.

He said Ghana’s financial performance in terms of numbers and macro framework so far have a very positive outlook.

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Mr. Pimenta made this known during an interaction with the media in Accra last week.

I believe that Ghana has even the potential to be one of the fastest-growing economies in the world next year if all growth continues in the right directions,” he said.

According to him, there is a very good background for private sector investment to come to Ghana.

He was, however, quick to point out that “when we look at the level of investments, both domestic investments and foreign sector investments, clearly there is an opportunity to even do more.”

The IFC is a sister organization of the World Bank Group and is headquartered in Washington D.C. in the US.

The Corporation is focused on creating opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets.

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Ghana is a very important country for us, it is one of the largest exposures in the continent. It’s among the top five countries in terms of exposure for IFC in Africa,” Mr. Pimenta added.

According to him, the IFC had committed over the last five years about two million dollars of financing to the infrastructure, agribusiness and tourism sectors in Ghana. 

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Source: Yen

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