The Minister of Finance, Seth Tekper has announced that Ghana’s Export-Import Bank (EXIM) will be operational in 2016.
[contextly_sidebar id=”NWAcaWl8CxtOa7PgJeuUzQpPypODjrbP”]According to him, a draft bill has been prepared for consideration by Cabinet and will be submitted to Parliament in due course.
“We expect the Bank to be operational by 2016 and will help address the challenge of long-term credit for exporters,” he added.
The Finance Minister made this known when he presented the Mid-year Review of the 2015 Budget to Parliament on Tuesday.
President John Mahama has stated that the establishment of a Ghana Export and Import Bank (EXIM) will move the country from import-dependent to a large-scale exporter.
He said it will also bridge the imbalances between trade and infrastructural development.
President Mahama has received a report from the Special Task Force commissioned to to carry out feasibility studies for the establishment of the Bank.
Meanwhile, some economist have cast doubts on the establishment of the EXIM bank.
They argued that the establishment of the bank will not necessarily address the needs of all exporters in the country.
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By: Godwin A. Allotey/citifmonline.com/Ghana