By Economist and senior lecturer at the University of Ghana, Dr. Adu Owusu Sarkodie, has highlighted that a sustained decrease in inflation has led to significant price reductions as the economy steadily rebounds.
During an appearance on TV3’s Ghana Tonight program on Monday, March 18, Dr. Adu Sarkodie emphasized the enhancements in macroeconomic indicators, stating that…“things are better now than in 2022”.
Touching on inflation, the economist stressed that the country should strive to achieve single-digit inflation as it was before COVID-19 struck.
“Yes, if you compare now and 2022, things are better. For example, current inflation is about 23 percent the 2022 ending year was about 54 percent…Yes, it is better than 54 percent but is it the best? No. Because before COVID struck, we were doing single-digit inflation, so the best performance you want to have is to go back to a single-digit inflation figure,” said Dr. Adu Sarkodie.
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During a meeting at the Jubilee House with the Managing Director of the Fund, Kristalina Georgieva, and her delegation, who were on a two-day visit to Ghana, President Akufo-Addo reiterated his administration’s commitment to implementing sound economic policies and remaining steadfast in executing the current IMF program.
Ghana’s three-year IMF program is currently in its first year, with the country having received a total of 1.2 billion United States dollars from the IMF in two installments of 600 million dollars each.
