Ghana’s economy on a steady rebound – BoG Governor

Dr Ernest Addison, the Governor of the Bank of Ghana (BoG), has given an indication that Ghana’s economy is on a steady rebound with indicators pointing towards pre-pandemic levels.

According to the BoG, their survey on consumer confidence suggests that the economic activity in the country has started picking up in some dormant areas.

Speaking at the University of Ghana Alumni Lecture on the theme, “Pandemic, The Economy and Outlook”, Dr Addison said, “Business confidence has also improved although the index remained below pre-lockdown levels."

He further stated that with the wide fiscal gap, which has raised important financing issues, the financing should not be by recourse to central bank funding, as doing that will weaken the central bank’s ability to serve as the anchor of monetary and exchange rate stability.

He, then, warned that the global economy was not out of the woods yet, nor was the Ghanaian economy.

"This means as public policy makers, we will still be faced with tough decisions that require a response function asymptotic to Pareto principles. The critical decisions that we take will be judged by posterity," Dr Ernest Addison said.