Close Menu

    Subscribe to Updates

    Get the latest headlines from PapaLinc about news & entertainment.

    What's Hot

    Ananzo Receives Another Surprise Gift After Davido’s $5,000 Blessing

    One year ago, we had Chef Smith

    IMF’s caution to government on ‘artificial’ stability of cedi vindicates us

    Facebook X (Twitter) Instagram
    • Lifestyle
    • Africa News
    • International
    Facebook X (Twitter) Instagram YouTube WhatsApp
    PapaLincPapaLinc
    • News
      • Africa News
      • International
    • Entertainment
      • Lifestyle
      • Movies
      • Music
    • Politics
    • Sports
    Subscribe
    PapaLincPapaLinc
    You are at:Home»News»FLASHBACK: Ghana’s economy will take 5 to 7 years to recover
    News

    FLASHBACK: Ghana’s economy will take 5 to 7 years to recover

    Papa LincBy Papa LincOctober 22, 2024No Comments3 Mins Read0 Views
    Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
    FLASHBACK: Ghana’s economy will take 5 to 7 years to recover
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email


    Banking Consultant, Dr Richmond Atuahene Banking Consultant, Dr Richmond Atuahene

    Banking Consultant, Dr Richmond Atuahene, in October last year when he appeared on GhanaWeb TV’s BizTech programme said the local economy will take between 5 to 7 years to bounce back to normal.

    Dr Atuahene said until the country’s cost-push inflation is tamed, the economy will continue to be in a wobbling state.

    Read the full story originally published on October 24, 2023 by www.ghanaweb.com.

    Banking Consultant, Dr Richmond Atuahene, has said Ghana’s economy will take a long time to bounce back to normal levels.

    Making this known on GhanaWeb TV’s BizTech programme, he stated categorically that the economy will take between 5 to 7 years to recover.

    Dr Atuahene noted that until the country’s cost-push inflation is tamed, the local economy will continue to be in a wobbling state.

    “The economy is not going to turn around today or tomorrow. It will take quite a reasonable time and if I am a prophet, I’ll tell you it will take 5 to 7 years,” the banking consultant told the host of BizTech.

    He added that, “If we want to achieve A+- when we are importing everything, poultry feed, rice, sugar, even dead bodies, how can you control it. Because our cost-push inflation, the policy rate they are looking at demand push. The cost push is something that is coming from external.”

    It would be recalled that the local economy took a nosedive in 2020 after the outbreak of the coronavirus pandemic.

    It remained in a wobbling state for quite some time before the Russia-Ukraine war aggravated the case.

    As part of measures to tame high inflation and stabilize the economy, the government on July 1, 2022, announced its decision to run to the International Monetary Fund (IMF) for a $3 billion financial bailout programme.

    Subsequently, a team from the IMF arrived in the country from July 6 to July 13, 2022, to engage Ghanaian authorities for a possible economic support programme.

    A staff-level agreement between the Government of Ghana and the IMF was reached in December 2022.

    On May 17, 2023, IMF’s executive board approved Ghana’s $3 billion loan facility.

    The first tranche of $600million was received by the Bank of Ghana (BoG) on Friday, May 19, 2023.

    The IMF programme, according to the government is aimed at restoring macroeconomic stability and safeguarding debt sustainability among many others

    Watch the latest edition of BizTech below:

    Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

    Click here to follow the GhanaWeb Business WhatsApp channel



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Telegram Email
    Previous Article“I’m not a woman!zer” – Nightlife Influencer, Yhemolee w@rns female admirers (IMAGE)
    Next Article Mother of second victim of East Legon accident hasn’t spoken to anyone since the trauma
    Papa Linc

    Related Posts

    IMF’s caution to government on ‘artificial’ stability of cedi vindicates us

    July 9, 2025

    Tragedy as British woman, 35, is run down and killed in front of her husband while out jogging in France as cops question driver

    July 9, 2025

    Three prominent Ghanaians who turned to international courts to demand Justice

    July 9, 2025
    Ads
    Top Posts

    Here’s why Ghana Airways collapsed in 2004

    November 5, 202449 Views

    A Plus questions the hypocrisy of NPP members who remained silent about corruption for 8 years, only to speak out after losing power.

    December 26, 202447 Views

    Urgent search continues for Paul Barning after he was attacked by shark during fishing competition

    February 23, 202539 Views

    Kenyan Senator breaks silence on her alleged intimate affairs, secret child with John Agyekum Kufuor

    December 21, 202434 Views
    Don't Miss
    Lifestyle July 9, 2025

    Ananzo Receives Another Surprise Gift After Davido’s $5,000 Blessing

    Ghanaian music promoter and TikTok sensation Ananzo, real name Eugene Ananzo Junior is currently riding…

    One year ago, we had Chef Smith

    IMF’s caution to government on ‘artificial’ stability of cedi vindicates us

    Tragedy as British woman, 35, is run down and killed in front of her husband while out jogging in France as cops question driver

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • WhatsApp

    Subscribe to Updates

    Get the latest headlines from PapaLinc about news & entertainment.

    Ads
    About Us
    About Us

    Your authentic source for news and entertainment.
    We're accepting new partnerships right now.

    Email Us: info@papalinc.com
    For Ads on our website and social handles.
    Email Us: ads@papalinc.com
    Contact: +1-718-924-6727

    Facebook X (Twitter) Pinterest YouTube WhatsApp
    Our Picks

    Ananzo Receives Another Surprise Gift After Davido’s $5,000 Blessing

    One year ago, we had Chef Smith

    IMF’s caution to government on ‘artificial’ stability of cedi vindicates us

    Most Popular

    April 3, 2023 – Russia-Ukraine information

    October 17, 20240 Views

    ‘I’ve by no means seen something like this:’ Certainly one of China’s hottest apps has the flexibility to spy on its customers, say specialists

    October 17, 20240 Views

    Man in NPP’s ‘4 extra to do extra’ T-shirt arrested for stealing rice

    October 17, 20240 Views
    © 2025 PapaLinc. Designed by LiveTechOn LLC.
    • News
      • Africa News
      • International
    • Entertainment
      • Lifestyle
      • Movies
      • Music
    • Politics
    • Sports

    Type above and press Enter to search. Press Esc to cancel.

    Ad Blocker Enabled!
    Ad Blocker Enabled!
    Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.