Ghana’s Economy Is Experiencing Positive Growth – BoG Governor

Dr. Ernest Addison, the governor of the Bank of Ghana (BoG), has announced that Ghana’s economy is improving compared to past years.

In the past, the economy faced a decline, leading the government to pursue a $3 billion bailout from the International Monetary Fund (IMF).

Addressing the Public Accounts Committee of Parliament on Monday, April 8, 2024, Dr. Addison credited the economic recovery to several factors, such as the increase in foreign exchange reserves.

He conveyed gratitude to Parliament for approving the addition of $300 million to Ghana’s reserves, a move intended to bolster the economy.

“For the economy as a whole, I can tell you that things are improving, our foreign exchange reserve levels are improving. Thanks to Members of Parliament who recently approved a facility, so $300 million was added to our reserves.

“All of that strengthens our position to support you [government] in executing these type of projects.”