Ghana’s latest positive review from International Monetary Fund staff has created renewed optimism about the country’s economic direction, according to leading economist Professor Patrick Asuming. He believes this assessment will serve as Ghana’s key selling point to attract investors during the ongoing IMF and World Bank annual meetings.
The economist confirmed that the fifth staff-level review contains overwhelmingly positive developments that signal Ghana’s economic turnaround after a challenging period marked by high inflation and currency pressures. “The confidence has been improving at least from the domestic front,” Asuming noted, pointing to recent Bank of Ghana data showing improved business and consumer sentiment.
While the recovery remains gradual, the IMF’s endorsement provides crucial validation that Ghana is committed to fiscal discipline and economic reforms. This external confirmation comes as the cedi shows relative stability and inflation continues its downward trajectory, with recent figures hitting 9.4 percent.
“The statement that came with it is full of positive news about the direction of the economy,” Asuming remarked regarding the staff-level agreement. He emphasized that international investors will recognize that although Ghana is emerging from a difficult position, it’s now moving in the right direction.
This renewed confidence, backed by improving macroeconomic indicators and significant public debt reduction, positions Ghana to attract more foreign direct investment in the coming months as the government continues its economic reset program.
