Business News of Wednesday, 3 November 2021
Source: www.ghanaweb.com
Investors and the global community have been assured that Ghana’s economy remains one of the most robust and stable destinations to invest.
According to Minister of State at the Ministry of Finance, Charles Adu Boahen, the country’s economic fundamentals rather remain strong as it was some three to four months ago despite the adverse impact of the coronavirus pandemic.
Addressing participants at the Graphic Business/Stanbic Bank Breakfast Meeting on November 2, 2021, Adu Boahen expressed concern over the “heightened sell-off” of Ghana bonds on the international market.
“I’m sure you all notice the global sell-off in our Eurobonds in the international stock market. There’s been a general sell-off but I am sure those of Ghana have been quite pronounced. It is a situation that is of concern but I want to assure the Ghanaians that nothing fundamentally has changed; were still on track to meet our deficit, we are still on track to meet our revenue target for the year.”
“We believe that the market’s reaction is not based on the fundamentals, which are still as robust as they were three-to-four months ago,” Boahen said.
The Minister of State further called for a rethink of action on the bonds market as the sentiments driving such decisions do not reflect the true state of the economy.
Adu Boahen however pointed government was confident the situation on the international bond market would rather normalise in the coming days for bond holders.