The government is accelerating the disbursement of nearly $1 billion by development partners to stimulate the growth of the Ghanaian economy.
The fast-track disbursement is among a number of measures being rolled out by the government before the end of the year to strengthen the country’s macroeconomic progress.
Minister for Finance Dr. Mohammed Amin Adam who announced this, cited the relative stability of the cedi, decreased inflation and declining interest rates as positive indicators of economic recovery that must be sustained through robust fiscal policies.
Speaking at the opening of the 3i Africa summit, Dr Amin Adam said the acceleration will also create a favourable environment for the financial sector to grow.
“The government is also implementing measures on the fiscal side including the acceleration of disbursement of $1 billion by our development partners between now and December ending to support the economy.
“Ghana’s economic rebound has been quite swift with economic growth ending the year 2023 at 2.9% against a target of 1.5%, inflation heading towards the year-end target of 15%, and interest rates declining. Despite recent pressures on our currency, the cedi’s depreciation year-to-date of 12% is far lower than its depreciation of 27% in
the same period last year”, the Minister added.
Dr. Mohammed Amin Adam, also underscored the need for collective action and strategic partnerships to fully harness the potential of financial technology.
“Realising the full potential of fintech in effecting substantive change necessitate concerted efforts and strategic alliances among various stakeholders including governments, regulatory bodies, financial institutions, technology firms and civil society organisations.
“We must also transcend national boundaries and forge strategic partnerships spanning sectors industries and jurisdictions to make meaningful progress,” he stated.
