We’ll support govt steer out of economic stress – AGI

We’ll support govt steer out of economic stress – AGI


The Association of Ghana Industries (AGI) has expressed its readiness to support President Nana Addo Dankwa Akufo-Addo to steer the country from the current economic stress.

The President of the association, Humphrey Ayim-Darke who led a delegation to meet with the President at the Jubilee House in Accra yesterday, pledged the group’s support for the government.

Mr. President, we recognize your relentless efforts to steer our economy to the pride of place and the desire to transform our economy to the best of your ability.”

“We pledge our support that together we shall resolve the difficulties,” he said

The purpose of the meeting, held behind closed doors after initial opening remarks, was to discuss the economic programme the government is discussing with the International Monetary Fund (IMF)

It also created the platform for the government to give the AGI members details of the government’s programme and seek their support and suggestions.

President Akufo-Addo was optimistic that the IMF programme would have an important impact on the economic future of the country

He said negotiations with the IMF would conclude soon.

The government’s delegation at the meeting, led by the President, included the Chief of Staff, Akosua Frema Osei Opare, the Minister of Finance, Ken Ofori-Atta, Minister of Trade and Industries, Alan Kyeremateng, among others.

The AGI delegation also included representatives of top businesses such as Zoomlion, Unilever, Coconut Groove, Wellman Ghana, FC Perfumery and Irani Brothers, among others

The President also held closed-door meetings with the Ghana Association of Banks and the Council of state on the economic issues the economic stress the nation is facing.

The Ministry of Finance and the Bank of Ghana have commenced discussions with the IMF for an IMF-supported programme.

The purpose of the programme is confirmation that Ghana’s debt is on a sustainable path.

Consequently, the government is putting together a comprehensive post COVID-19 economic programme which will form the basis for the IMF negotiations.

The programme seeks to establish a macro-fiscal path that ensures debt sustainability and macroeconomic stability underpinned by key structural reforms and social protection.

The government is actively engaging stakeholders, both public and private, and hopes to conclude discussion with the fund as soon as possible.

Mr. Ken Ofori-Atta, who is under pressure to resign as Finance Minister, is expected to give details on the programme when he delivers the government’s 2023 budget statement and economic policy to Parliament next month.

Original Source: Ghanaian Times