Whereas Ghana\u2019s Finance Minister Seth Terkper is quite optimistic about Ghana\u2019s economic turnaround, the International Monetary Fund (IMF) which is helping the country out of its current economic mess, is now sounding gloomy about the future.<\/p>\n
[contextly_sidebar id=”UCpHXffp8idqEIQ4zQ3SPWkDGUukPqnR”]Ghana\u2019s economy took a downturn after 2012 and since government was struggling to deal with the situation, it turned to the IMF for help and secured an extended credit facility of over 900 million dollars.<\/p>\n
Ghana has done well so far with the plan but the IMF Mission chief for Ghana Jo\u00ebl Toujas-Bernat\u00e9 who has been speaking in Washington said current global economic trends will not favour the country\u2019s efforts to bounce back.<\/p>\n
He explained that \u201clarge decline in commodity prices, gold, oil and cocoa will mean lower exports\u201d which means that there will be lower revenues \u201cso making the advancement in the fiscal and external balances more difficult.<\/p>\n
Jo\u00ebl Toujas-Bernat\u00e9 also added that such trend will make Ghana rely more on borrowing which will not auger well the country.<\/p>\n
\u201c\u2026this means there would be increased cost of borrowing. So it will require very agile micro economic management to be able to adapt to this changing and more difficult conditions,\u201d he added.<\/p>\n
–<\/p>\n
By: Godwin A. Allotey\/citifmonline.com\/Ghana<\/p>\n