Source: newsthemegh.com
According to Dr. Ernest Addison, the governor of the Bank of Ghana (BoG), Ghana’s economy is growing faster than it has in past years.
A previous recession had forced the government to request a $3 billion bailout from the International Monetary Fund (IMF).
On Monday, April 8, 2024, Dr. Addison gave a speech before the Public Accounts Committee of Parliament, where he ascribed the economic recovery to a number of causes, including the increase in foreign exchange reserves.
He thanked Parliament for approving the $300 million increase in Ghana’s reserves, which is intended to bolster the country’s economy.
“For the economy as a whole, I can tell you that things are improving, our foreign exchange reserve levels are improving. Thanks to Members of Parliament who recently approved a facility, so $300 million was added to our reserves.
“All of that strengthens our position to support you [government] in executing these type of projects.” he mentioned.