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Economy & Investments | Feb 1, 2005

Ghana’s Economy Remains Sound – Ghana’s UK Envoy

GHANA HIGH COMMISSION, LONDON

H.E, Mr. Isaac Osei, Ghana's High Commissioner to the UK has said in London that Ghana's economy remained sound and called on investors to be part of the success story of the foundation which had been laid by the Government of the New Patriotic Party within the past four years.

Speaking at a luncheon in his honour organised by Mr. Sharazam Mazari, Chief Executive of Standard Chartered Bank for Africa, Mr. Isaac Osei said the restoration of macro-economic fundamentals had rekindled confidence of the international financial community and called on the Standard Chartered Bank to explore further avenues to improve financial inter mediation even as they rationalise the operations in Ghana.

He said there was the need for developed countries to throw their weight behind Ghana which had proved beyond all reasonable doubt its determination to continue to deepen democracy, promote good governance and private sector growth.

Present at the luncheon were heads of various African divisions of the Bank including Mr. Kavin Laws - Head of Consumer Banking, Mr. Andrew Bester – Client Relations and Wholesale Manager, Jeal-Michel d'Oultremont- Global Marketing Wholesale, and Ms. Razia Khan – Chief Economist.

The High Commissioner was accompanied by Mr. F. Fritz Andoh – Minister Counsellor/Information, Mr. Appiah Donyina – Counsellor Trade/Investment, and Mr. Emmanuel Antwi- Counsellor Political and Economic.

He said the government would continue to ensure that the nation would not go back to the old bad ways of higher inflation, interest rate and deficit financing of development projects.

“The challenge in 2005 will be geared among other things to maintaining fiscal discipline, expanding internal revenue generation and investing in socio-economic infrastructure,” he said.

Mr. Mazari praised the government for its prudent management of the economy and the pragmatic measures which had been put in place to ensure good governance. He added that the Africa would continue to be an important partner in all its operations.

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