Oxford Business Group<\/a> (OBG) during a wide-ranging interview he gave to the global publishing, research and consultancy firm, Wampah acknowledged that the bank had faced a \u201cdifficult choice\u201d, given the importance of making credit accessible to the business community.<\/p>\nHowever, he added, macroeconomic stability represented an essential \u201cfirst step\u201d towards sustainable growth.<\/p>\n
\u201cIf there is not enough incentive to invest in the bond market, many of the private sector\u2019s gains could be lost due to market uncertainty,\u201d he told OBG.<\/p>\n
The full interview with Wampah will appear in The Report: Ghana 2016, OBG\u2019s forthcoming publication on the country\u2019s economy.<\/p>\n
The report will contain a detailed, sector-by-sector guide for investors, alongside contributions from leading personalities, including the Minister of Finance Seth Terkper.<\/p>\n
Wampah highlighted the key part that greater coordination in public sector financing could play in improving fiscal management.<\/p>\n
He also told OBG that further monetary financing on the secondary market would be needed \u201cto increase liquidity, creating appetite for longer-term debt securities\u201d.<\/p>\n
The central bank, he added, planned to introduce a platform to facilitate secondary market trading.<\/p>\n
\u201cBy reassuring investors that our debt-management strategy is sustainable, while also making sure there is less of a chance of losses when securities are sold for cash, Ghana can rein in its debt,\u201d the bank\u2019s governor told OBG.<\/p>\n
Wampah said a broad-based approach was required to help mitigate market shocks.<\/p>\n
Solving Ghana\u2019s macroeconomic imbalances, he continued, marked the first step.<\/p>\n
\u201cThe drop in commodity prices of chief exports like cocoa, gold and oil has widened the trade deficit, and it will take a collaborative effort to end our over-reliance on commodities,\u201d he commented.<\/p>\n
–<\/p>\n
Credit : \u00a0Oxford Business Group<\/p>\n","protected":false},"excerpt":{"rendered":"
Ghana will make it a priority to address the downward pressure on the cedi, since instilling confidence in the currency will help generate better opportunities for growth. [contextly_sidebar id=”74UTl7vqQEuRP2nsg80eGnAZG5Ls53Nb”]This according to the Governor of the Bank of Ghana (BoG) Henry Kofi Wampah. Speaking to the Oxford Business Group (OBG) during a wide-ranging interview he gave […]<\/p>\n","protected":false},"author":14,"featured_media":173624,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[2,19],"tags":[4],"class_list":["post-173590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education","category-health","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/173590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=173590"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/173590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/173624"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=173590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=173590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=173590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}