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Business News Wed, 26 Apr 2017

Nana Addo targets $8.5 trillion underperforming global fund

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President Nana Addo Dankwah Akufo-Addo is targeting the 8.5 trillion dollars underperforming global fund to be used to boost the growth of the Ghanaian economy, Minister of Finance Ken Ofori-Atta has revealed.

Speaking at the World Bank Headquarters in Washington DC, Ken Ofori-Ata asserted that the President is thinking of creating a highly business friendly environment to lure the 8.5-trillion-dollar-underperforming-global-fund into the Ghanaian economy.

‘'Ghana is getting into the second wave of the compact with the G20 and the President Nana Addo is thinking of something he calls cascading, that is how he could create magnets in countries such as ours to attract the eight and half trillion dollars of funds in the world which are underperforming to support growth'’ Mr. Ofori Atta noted.

Meanwhile Finance Minister Ken Ofori-Atta has refuted claims that government is rushing to end the IMF bailout programme due to borrowing restrictions.

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Government signed on the three-year extended credit facility in 2015, to among others ensure fiscal discipline and cut down on government’s borrowing spree.

Government earlier this year announced that it will not extend the IMF programme when it ends in April 2018.

Source: Famous Kwesi Atitsogbe
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