Ghana's economy has turned the corner; investors should have confidence – Biakoye NDC Communicator

The Biakoye Constituency Communication Officer of the National Democratic Congress (NDC), Atsu Charles, has defended the government's economic performance, insisting that key macroeconomic indicators demonstrate that Ghana's economy is recovering and is once again becoming an attractive destination for investment.

Speaking on the Bubune Breakfast Show hosted by Nana Yaw Asiamah, Mr. Atsu said the current administration has implemented sound economic policies that have resulted in lower inflation, a more stable exchange rate and reduced lending rates.

According to him, these improvements are restoring confidence among businesses and investors.

"Today, inflation has dropped significantly, and the cedi has remained relatively stable against the US dollar. These are not accidental developments; they are the result of deliberate policies introduced by the government," he stated.

Mr. Atsu explained that international lenders and investors assess a country's debt profile and macroeconomic stability before committing funds, arguing that Ghana's improving economic indicators now place the country in a stronger position to attract investment.

"If someone wants to lend money to Ghana, they first examine our debt levels and the overall state of the economy. The progress we have made gives confidence to investors," he said.

The NDC communicator also credited President John Dramani Mahama, the Governor of the Bank of Ghana, the Minister for Finance and Vice President Professor Naana Jane Opoku-Agyemang, whom he described as Chairperson of the government's Economic Management Team, for coordinating policies that have helped stabilise the economy.

"They brought their expertise together, and today our economy is standing on a much stronger foundation," he remarked.

Mr. Atsu further argued that the relative stability of the cedi has provided predictability for importers and traders, allowing them to plan their businesses without the uncertainty caused by sharp exchange rate fluctuations.

"A trader who exchanges cedis into dollars today has greater confidence that the value will remain relatively stable when it is time to restock. That kind of stability is important for business planning," he noted.

He also pointed to what he described as declining lending rates, saying businesses now have easier access to credit than they did under the previous administration.

"There was a time businesses were borrowing at interest rates exceeding 30%. Today, some commercial banks are offering loans at much lower rates, making it easier for entrepreneurs and contractors to expand their businesses," he claimed.

Mr. Charles maintained that the government's management of public finances has also improved, citing efforts to honour debt obligations and strengthen confidence in Ghana's financial sector.

According to him, the country has made significant progress in addressing inherited debt challenges while restoring stability to the broader economy.

Responding to concerns about investor confidence, Mr. Atsu said the country's improving economic indicators should reassure both local and foreign investors.

"Investors should have confidence in Ghana. The economy is becoming more stable, inflation has reduced, the exchange rate has improved, and government policies are creating a better business environment. Their investments will be secure," he said.

He therefore encouraged investors to take advantage of the opportunities available in Ghana, expressing confidence that continued policy consistency would sustain economic growth and create more opportunities for businesses.