{"id":65739,"date":"2024-01-31T08:15:55","date_gmt":"2024-01-31T08:15:55","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/imf-rep-lauds-ghanas-critical-economic-reforms"},"modified":"2024-01-31T08:56:44","modified_gmt":"2024-01-31T08:56:44","slug":"imf-rep-lauds-ghanas-critical-economic-reforms","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-rep-lauds-ghanas-critical-economic-reforms","title":{"rendered":"IMF Rep lauds Ghana\u2019s critical economic reforms"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The International Monetary Fund\u2019s (IMF) resident representative in Ghana, Dr. Leandro Medina, has lauded the country\u2019s economic outlook.<\/b><\/p>\n

Dr. Leandro revealed that although Ghana is not out of the woods yet, critical reforms have been made.<\/p>\n

\u201cDespite a very difficult external environment, macro has been quite resilient, Dr. Leandro said in an interview on Accra-based Citi FM.<\/p>\n

\u201cThe critical reforms have been made, critical actions by authorities have been taken, and we are on the right path. Are we there? Not yet. There are key objectives of this programme, that is to restore macroeconomic stability, secure sustainability, and lay the foundations for more durable and higher and more inclusive growth, we are not there yet but we are on the right path,\u201d he stated.<\/p>\n

He continued, \u201cWhen you look at growth, we had to upgrade our projections because growth in 2023 has been more resilient, inflation has been on a decreasing path, reserves have been increasing, and exchange volatility has also decreased.\u201d<\/p>\n

The Fund considered Ghana\u2019s economy to be attaining stability with macroeconomic indicators.<\/p>\n

\u201cIt is extremely important to know where we are and where we intend to be. By no means are we there, [but] when we see early signs of stability emerging,\u201d he said, citing, for example, \u201cinflation is down from 54 to 23, 23 is still high for inflation and way above the BoG target, but we are getting there, we are on the right track.\u201d<\/p>\n

Dr. Leandro stressed the significant drop in the inflation figures as one of the key indicators that actions taken by the government are yielding some positive results.<\/p>\n

READ MORE:<\/p>\n

IMF officials are obligated to say positive things about Ghana\u2019s economy \u2013 Spio- Garbrah<\/p>\n

IMF deal: Board\u2019s approval of Ghana\u2019s first review good for the economy \u2013 Bokpin<\/p>\n

Governor Addison attributes downward trend in inflation to \u2018strong & innovative policies, tight monetary conditions\u2019<\/p>\n

The economy has significantly improved, as evidenced by the fact that inflation dropped from a record high of 54% in December 2022 to 23.2 percent in December 2023.<\/p>\n

In navigating economic issues and putting sound fiscal policies into place, Dr. Medina stated that \u201ccollaboration between Ghanaian authorities and foreign financial institutions is producing great results.\u201d<\/p>\n

Following the onslaught of COVID-19 and Russia\u2019s invasion of Ukraine, world economies ground to a halt.<\/p>\n

Nonetheless, Ghana\u2019s economy appears to be on the right path towards full recovery.<\/p>\n

Meanwhile, the IMF has projected 3.1% in 2024 and 3.2% in 2025 as global economic growth rates. This was revealed in the Fund\u2019s January 2024 World Economic Outlook Update.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The International Monetary Fund\u2019s (IMF) resident representative in Ghana, Dr. Leandro Medina, has lauded the country\u2019s economic outlook. Dr. Leandro revealed that although Ghana is not out of the woods yet, critical reforms have been made. \u201cDespite a very difficult external environment, macro has been quite resilient, Dr. Leandro said in an […]<\/p>\n","protected":false},"author":84,"featured_media":65738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,5099],"tags":[5092,5096,429],"class_list":["post-65739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nIMF Rep lauds Ghana\u2019s critical economic reforms - Ghana<\/title>\n<meta name=\"description\" content=\"The International Monetary Fund\u2019s (IMF) resident representative in Ghana, Dr. Leandro Medina, has lauded the country\u2019 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-rep-lauds-ghanas-critical-economic-reforms\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF Rep lauds Ghana\u2019s critical economic reforms\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund\u2019s (IMF) resident representative in Ghana, Dr. Leandro Medina, has lauded the country\u2019 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-rep-lauds-ghanas-critical-economic-reforms\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-31T08:15:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-31T08:56:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678456.462536.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-rep-lauds-ghanas-critical-economic-reforms#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-rep-lauds-ghanas-critical-economic-reforms\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"IMF Rep lauds Ghana\u2019s critical economic reforms\",\"datePublished\":\"2024-01-31T08:15:55+00:00\",\"dateModified\":\"2024-01-31T08:56:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-rep-lauds-ghanas-critical-economic-reforms\"},\"wordCount\":438,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-rep-lauds-ghanas-critical-economic-reforms#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678456.462536.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-rep-lauds-ghanas-critical-economic-reforms#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-rep-lauds-ghanas-critical-economic-reforms\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-rep-lauds-ghanas-critical-economic-reforms\",\"name\":\"IMF Rep lauds Ghana\u2019s critical economic reforms - 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