(IMF) Mission Chief for Ghana has declares that the worst is over for the country’s economy.

IMF Mission Chief for Ghana, Stéphane Roudet, has expressed optimism about Ghana’s economic outlook, stating that the worst is behind the country and a full recovery is on the horizon.

Speaking from Washington DC, USA, Roudet emphasized that Ghana’s economic trajectory depends on the government’s continued implementation of the IMF program.

He noted that if the program is upheld as it has been in the past year, Ghana can expect to see positive results.

Responding to concerns about potential economic shocks due to global developments, Roudet disagreed with the notion that Ghana’s recovery might be short-lived.

He emphasized the importance of strict adherence to the IMF program for achieving full macroeconomic stability.

Highlighting Ghana’s performance under the IMF program, Roudet commended the country for overperforming and delivering on its promises.

He noted that growth has exceeded forecasts, prompting a review of growth projections for 2024. Roudet attributed Ghana’s success to its commitment to program implementation, which has led to improvements in revenue generation, inflation control, and fiscal adjustments.

In terms of restoring confidence in Ghana’s economy, Roudet stressed that continued adherence to the IMF program is essential. He emphasized that this would not only influence rating agencies but also domestic stakeholders, ultimately boosting confidence in the economy.

Looking ahead, Roudet anticipates that Ghana’s economy will outperform previous projections, with growth potential averaging around 5 percent in the medium term. He concluded by expressing confidence in Ghana’s ability to gradually return to its growth potential in the future.