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The International Monetary Fund (IMF) has commended Ghana’s dedicated efforts towards achieving economic stability, emphasizing that although the nation hasn’t reached its ultimate goal, it is undeniably on the right path. Dr. Leandro Medina, the IMF’s resident representative in Ghana, expressed optimism during an interview on the Citi Breakfast Show, highlighting the government’s commitment to revitalizing the economy.
Dr. Medina pointed out several positive indicators, such as resilient growth in 2023, decreasing inflation, increasing reserves, and reduced exchange volatility. While acknowledging that challenges persist, he noted the significant progress made in critical reforms and actions by authorities.
Key positive signs mentioned by Dr. Medina include a notable decrease in inflation from 54 to 23.2 percent in December 2023 and a substantial increase in the reserves of the Bank of Ghana. These indicators reflect commendable efforts to strengthen the nation’s financial standing.
Despite persistently high inflation, Dr. Medina highlighted a discernible positive trend, attributing the improvements to collaborative efforts between Ghanaian authorities and international financial institutions. He stressed that the positive assessment provides optimism for Ghana’s economic future, reinforcing the belief that ongoing efforts are steering the country towards sustained growth and stability.
