Ghana receives world emerging economy award

Thomson Financial?s International Financing Review (IFR) has given a prestigious award to Ghana as the most emerging economy in the world for the year 2007. Ghana emerged as the winner following a year of intense scrutiny and monitoring of the emerging global economic activities by Thomson IFR's independent, global team of expert reporters and analysts.

The IFR award represents the key industry benchmark of global capital markets and national economic excellence.

The Award was presented in London at the 13th IFR Annual Awards Gala Dinner attended by over 1,500 senior investment bankers, economists and representatives of governments from around the globe last week with Her Royal Highness The Princess Royal attending.

Thomson Financial?s International Financing Review (IFR) is the world?s leading source of international capital markets and national economies intelligence

Published weekly through International Financing Review, it is also in real-time through ifrmarkets.com and on Reuters, Bloomberg and TradeWeb, IFR provides in-depth coverage and analysis of all international bond, syndicated loan, national economies, equity and convertible issues, as well as developments in leveraged finance, emerging markets interest-rate and credit derivatives. It is read by all major banks. IFR which has its headquarters in London with bureaus in New York, Tokyo, Hong Kong, Singapore, Sao Paulo, and Sydney provides in-depth coverage of developments in global financing markets, including analysis of all international bond, syndicated loan, leveraged finance, high-yield debt, emerging market, equity and convertible issues, as well as developments in the derivatives market.

Other winners of the night included, Bank of the Year ? Goldman Sachs; Bond House of the Year ? Deutsche Bank; Equity House of the Year ? UBS Citi Group annexed the Loan House of the Year, with Securitisation House of the Year award again going to Deutsche Bank. The HSBC bank was adjourned the best bank in terms of loans granting to the Asian economy.

Matthew Davies, Editor of Thomson Financial?s IFR, commented: ?Many economy watchers ? and many of its rivals ? had characterised Ghana?s economic strategy as one suitable for a propelling what he described as ?bull and boomed economy?. He noted that Ghana?s economic performance in 2007 was remarkable. ?Against a background of unprecedented difficulties in world trade and political instability in certain parts of the world especially on the African continent, which saw enormous write downs across the many economies ousted, Ghana?s economy was able to grow.? He added.

He said the lessons on Ghana?s economic progress were very relevant to other countries especially those in Africa and third world countries. Ghana?s Finance and Economic Planning Minister, Mr. Kwadwo Baah Wiredu, who received the award on behalf of Ghana, expressed the delight that the Ghana?s economic upturn has impressed the world.

He said the vision of the government of Ghana is to help provide and maintain a buoyant and robust economy for her citizens. According to him, Ghana has extended it?s arms to the world?s investment community to participate in her economy and ?I stand here to say that the response has been tremendous. This is mainly due to the economic and political stability we have exhibited as a nation?. Mr Baah Wiredu who was accompanied to the event by Ghana?s High Commissioner to the UK, Mr. Annan Cato has since returned home.