Afdb Lauds President Akufo-Addo’s Management of Ghanaian Economy

The President of the African Development Bank (AfDB), Mr. Akinwumi Adesina, has commended the significant strides chalked in the management of Ghana’s economy by the 7-month old government of the President of the Republic, Nana Addo Dankwa Akufo-Addo.

Mr. Adesina also congratulated President Akufo-Addo for the clarity of his vision and direction in which the country’s economy is headed, which, according to him, has enhanced the image of the country and its standing with the global, international financial community.

“I must commend you for the growth that I am beginning to see. The economy is going to grow this year at 6.3%, and next year at 7.4%. The medium term outlook is great, at about 9.2%. You (President Akufo-Addo) have always said you wanted Ghana back, and a Ghana Beyond Aid. This kind of growth trajectory is exactly what is needed for a Ghana Beyond Aid,” he said.

The AfDB President also commended the Akufo-Addo government for the efforts at stabilising the country’s macroeconomy.

“The results are quite evident. If you look at the inflationary rate, it has gone down to 12.1%. The debt stock in relation to the size of the GDP has also gone down to 67%, from what you inherited. These are all great signs of your stewardship in the few months that you have taken over. That is a very good tone,” he said.

Mr. Akinwumi Adesina made this known on Wednesday, 2nd August, 2017, when he paid a courtesy call on President Akufo-Addo, at the Presidency, as part of his 3-day working visit to Ghana.

With Ghana in recent years dealing with the concessionary arm of the Bank, Mr. Adesina noted that “with the rapid economic growth that we have seen, and with the macroeconomic stabilisation that you are having, and your Minister of Finance is doing an incredible job, we will we work with you to move Ghana towards the commercial window of the Bank.”

What that means, he said, “is that Ghana will be able to access $500 million a year, over a three year period, for developmental programmes. I just want to assure you that we will provide the maximum amount support for you and your government to succeed. You have put together an excellent team, a first rate team, and I have every confidence that it will succeed.”

Source: otecfmghana.com