Mahama: 'Economy will be Africa's most competitive in 2017'

President John Mahama has expressed confidence that Ghana’s economy is on the verge of becoming the most competitive in the Sub-region in 2017.

According to him, the three year International Monetary Fund bailout deal will facilitate this achievement.

Ghana has received the first tranche of a 914-million dollar bailout package from the IMF and is due to receive the second tranche in June this year.

Speaking at the launch of the European Business Organization in Accra, Mahama said the IMF deal gives “Ghana the opportunity to stabilise our macro-economic environment, accelerate our economic growth and restructure our debt profile”.

“This three-year programme will see Ghana emerge in 2017 as perhaps the most competitive economy in the sub-region,” Mahama added.

The President, who also doubles as ECOWAS Chairman added that the EU must ratify the Economic Partnership Agreement to fast track trade between ECOWAS and the EU.

On his part the Head of EU Delegation in Ghana William Hanna said the European Business Organization will serve as a great compliment for the EPA to provide more opportunities for the Ghanaian economy.

The European Business Organization is the first of its kind in Africa.

It aims to deepen trade and business ties between Europe and Ghana, enrich dialogue with the public sector and create a better business environment for all European private companies in Ghana.