Ghana's Economy Gradually Bouncing Back - ‘Underfire’ Finance Minister Ken Ofori-Atta Upbeat About Prospects

• Ken Ofori-Atta says he remains upbeat about the prospects of the Ghanaian economy
• He says the economy is on the road to full recovery despite the numerous shocks the country has faced
• Mr Ofori-Atta also adds that progress being made gives the country a solid foundation to address the challenges head-on

The Finance Minister, Ken Ofori-Atta, says the Ghanaian economy is on the road to full recovery.

According to him, even though the gains are very modest, he remains upbeat that the economy will bounce back sooner rather than later.

This assurance from the Minister comes at a time several Ghanaians are lamenting the economic hardships they accuse the Akufo-Addo-led government of imposing on them.

Economy Recording Marginal Growth Despite Recent Shocks - Ofori-Atta

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But at a press conference in Accra today, Wednesday, September 28, 2022, Mr Ofori-Atta said available data indicates that the economy is recording some marginal growth despite recent ravaging shocks.

“...our economy is gradually on the upswing despite the numerous shocks we have faced over the past two years. These figures demonstrate that in spite of recent challenges, there has been economic growth, modest as the gains so far may be.”

Explaining further, he said the gains being made give the country a solid foundation to confront its economic challenges head-on.

IMF Officials Are In Ghana For Another Round of Negotiations

This positivity from the Finance Minister comes when officials from the International Monetary Fund (IMF) are in the country for another round of negotiations for a bailout from the Bretton Woods Institution.

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The country is currently reeling under an economic crisis which has left the Ghanaian cedi struggling against major trading currencies, including the Dollar.

The economic situation and rising prices of goods and services have left the ordinary Ghanaian wondering how soon the $3 billion IMF Economic programme will be successfully negotiated to provide some respite.

Ghana's Public Debt To GDP Is About 100%; It Is Simply Unsustainable – Ato Forson Sounds The Alarm Bells

Earlier, YEN.com.gh reported that the Ranking Member of Parliament's Finance Committee, Dr Cassiel Ato Forson, had sounded the alarm bells on the country's debt to GDP ratio.

According to him, Ghana's public debt is about 100% of GDP, which makes it highly unsustainable and scary.

Source: YEN.com.gh