The Minister for Trade and Industry Dr. Ekwow Spio-Garbrah has said \u201cthe IMF bail-out on its own is not enough to get Ghana out of its current economic challenges unless it is accompanied by other assistance, including bilateral and multinational funding as well as private equity.\u201d<\/p>\n
[contextly_sidebar id=”06OVN0GFdXr2K5M2mnvqj4uiJA0UGJFC”]Speaking in his office during a courtesy call on him by the EU Ambassador to Ghana H.E. William Hanna, Dr. Spio-Garbrah urged the EU and other development partners to come up with diverse funding packages for a number of projects in Ghana.<\/p>\n
\u201cThis is because that is what will make the difference in the Ghanaian economy and give the private sector the courage to come in as partners of Ghana\u2019s economic transformation,\u201d he said.<\/p>\n
Dr. Spio-Garbrah noted that \u201cit is necessary for the IMF to commit to assisting Ghana to mobilize billions of additional funds from multilateral, bilateral and sovereign funds, family trusts and private equity sources\u201d.<\/p>\n
\u201cWe must be collectively bound to try and do this together to give additional comfort to foreign investors that Ghana is a safe place to invest,\u201d he stressed.<\/p>\n
On his part H.E. William Hanna pledged the support of the EU and its partners towards Ghana\u2019s economic transformation.<\/p>\n
The EU is Ghana\u2019s biggest trading partner. In 2012, Ghana imported goods worth US$4.5billion from the EU while it exported goods worth US$3.8 billion, accounting for 49% of Ghana\u2019s total exports in 2012.<\/p>\n
According to Ghana and EU customs data, Ghana\u2019s exports to the EU in 2013 were 35% larger (US$4.6billion) than imports from the EU (US$3.4billion). Ghana\u2019s exports to the EU were dominated by petroleum oil exports worth US$2.5bn, or 55% of the country\u2019s total exports to the EU.<\/p>\n
Additionally, raw cocoa beans accounted for the next largest export of Ghana worth US$1billion, or 21% of exports.<\/p>\n
The EU is also a significant market for many of the priority non-traditional and horticultural exports identified in Ghana\u2019s National Export Strategy 2013-2017, including processed cocoa (cocoa paste, butter and powder) US$432m; fish and seafood US$146m; pineapples US$46m; bananas US$52m; yams US$20m; mangoes US$12m; cashew nutsUS$10m; fruit juiceUS$9m; and natural rubber US$35m.
\nSource: Ministry of Trade and Industry<\/p>\n","protected":false},"excerpt":{"rendered":"
The Minister for Trade and Industry Dr. Ekwow Spio-Garbrah has said \u201cthe IMF bail-out on its own is not enough to get Ghana out of its current economic challenges unless it is accompanied by other assistance, including bilateral and multinational funding as well as private equity.\u201d [contextly_sidebar id=”06OVN0GFdXr2K5M2mnvqj4uiJA0UGJFC”]Speaking in his office during a courtesy call […]<\/p>\n","protected":false},"author":14,"featured_media":0,"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":[],"tags":[21,4],"class_list":["post-92913","post","type-post","status-publish","format-standard","hentry","tag-psychiatric","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/92913","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=92913"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/92913\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=92913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=92913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=92913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}