IMF bailout: Ghana’s economy will be sound and robust – Forex Bureau Association

The Vice President of the Forex Bureau Association of Ghana, Dr. Alex Akpabli, has stated that the $3 billion financial bailout Ghana is expecting will go a long way to help businesses.

According to him, the current state of the economy has led to many business struggles, therefore the bailout will help boost investor confidence.

He said “As we speak, most businesses are struggling and therefore if the funds come it will boost more confidence in our economy. I think it will be good news for all of us. We as bureau operators are only praying that the good thing happens.”

The Ghana Cedi has been pegged as the best performer in the world currently.

Ahead of the anticipated IMF Board approval after Ghana recently secured financing assurances for the restructuring of her US$5.7 billion external debt, foreign investors appear to be looking favourably to the country.

The cedi has also advanced 33% since November, the biggest gain among about 150 currencies tracked by Bloomberg.

Also, Ghana’s dollar bonds have delivered a strong performance, providing investors with a return of almost 12%, more than the 3.6% average for emerging and frontier peers in a Bloomberg index.

Dr. Akpabli is of the view that the economy will see some improvements once the IMF deal goes through.

“Ghana’s economy will be sound and robust. Therefore, if it happens, as we are all praying that we secure this $3 billion loan from the IMF, I think it will help business,” he was quoted by myjoyonline.com.

SSD/DA