Economist, Dr John Gatsi has warned that the establishment of a Ghana Exim Bank will not necessarily address the needs of all exporters in the country.
He believes exporters must rather position themselves to take advantage of the opportunities that will emerge as a result of the establishment of the Exim Bank.
[contextly_sidebar id=”C0lHom6chAI0JgLRYnAt9lEkenH25N4n”]‘’Our exporters must position themselves and governing policies should also help exporters in other directions because all exporters cannot be supported by the Eximguaranty concept, we always say capital is scarce, it is not possible that capital in any country is able to cater for the needs of all exports’’.
President Mahama over the weekend set up a taskforce headed by Chair of the ECOBANK board of directors, Lionel Van Lare Dosoo to work on the establishment of a Ghana Exim Bank.
The bank is expected to be a vehicle for the consolidation of the current export finance activities of the Export Development and Agricultural Investment Fund (EDAIF), Eximguaranty Company and Export Finance Company.
According to Dr Gatsi, if there is a need to establish that, not all businesses with hopes of entering Ghana’s export market can be supported with the establishment of the EXIM Bank.
The Finance minister, Seth Terkper during the 2015 budget and economic statement presentation to Parliament last year said ‘the establishment of the EXIM Bank, Terkper will enable us to take advantage of international trade initiatives such as African Growth and Opportunity Act (AGOA), and Economic Partnership Agreement (EPA).”
According to him “it is necessary to adopt policies that tilt our economy predominantly towards exports. To achieve the desired transformation, cabinet has approved the creation of a Ghana Export-Import Bank to lead in the strategic positioning of Ghana as an export-led economy.”
By: Lorrencia Nkrumah /citifmonline.com/Ghana