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Business News of Tuesday, 18 April 2017


Finance Minister upbeat of investor confidence in Ghana

As the Spring Meeting begins this week in Washington D.C, Finance Minster Ken Ofori-Atta is hopeful the Nana Akufo-Addo government has shown clear indications of partnering with the international investor community for economic growth.

According to him, the meeting will provide Ghana an opportunity to sell the policies of the new administration to investors who are already enthusiastic of the new government’s pro-business agenda.

The spring meeting, which is held in the USA brings thousands of government officials, journalists, civil society organizations, and participants from the academia and private sectors, together in Washington DC for a meeting with the World Bank Group and the International Monetary Fund.

Speaking to Citi Business News ahead of the meeting, Mr. Ofori-Atta maintained that the meeting provides an opportunity for government to return with lots of gains.

“The new economic team has momentum and confidence. We are in good shape, this is almost like an outdooring in the sense that we haven’t been to Washington D.C yet, so we are going to meet all the major policy makers at the IMF and the World Bank for them to also get a feel of who we are as team that is committed and competent to execute the programme,” he said.

Mr. Ofori-Atta observed that the government has achieved some feat so far with foreigners investing in Ghana.

He maintained that the renewed confidence in the economy is the reason why investors are putting their funds in the country.

“The market response has been quite phenomenal. Investors have gone along with us in the last bond that we issued which really is a testament to the sense of momentum that we are building,” he stressed.

Highlighting some areas that may further boost Ghana’s ratings among investors, Mr. Ofori-Atta stated that government’s commitment and integrity is favorable in the international community.

“We intend to come back from Washington in a way that they understand the purposefulness of the IMF programme that we have. Our commitment and the integrity that we bring to it, I think that would lead to a better partnership. They want to be regarded as trusted advisors so it’s up to them to also make us believe that is what they are”.