Source: International Monetary Fund – IMF (video statements)
The Governor of the Bank of Ghana will reflect on Ghana’s recent macroeconomic journey—marked by external shocks, fiscal vulnerabilities, and a challenging global environment. He will outline the structure of Ghana’s economy, and the outsized role external factors have played in shaping macroeconomic outcomes. The conversation will then turn to the critical importance of fiscal reforms and the lessons drawn from Ghana’s post-2019 experience, including the consequences of overreliance on international capital markets and the impact of the Domestic Debt Exchange Program (DDEP) on economic activity and confidence. The Governor will trace how these dynamics culminated in a loss of market access, rising inflation, and dwindling reserves—ultimately leading to a new IMF-supported program in May 2023. Looking ahead, he will highlight the institutional and policy reforms now underway to restore macroeconomic stability, rebuild confidence, and lay the foundation for a private sector-led recovery. This session offers a timely and candid look at how Ghana is staying the course to anchor inflation, lower interest rates, and foster inclusive, resilient growth.