External Sector Surge: A Pivotal Moment for Government, Industry, and Households

By Surv. Prof. Forster SARPONG

During the first quarter of 2025, Ghana reached a significant and uncommon economic achievement, attaining a net lending status to other countries, as stated in the Bank of Ghana's May 2025 Monetary Policy Report.

This represented a shift away from years of continuous deficits and external weaknesses. A combined surplus of $2.2 billion in the current and capital accounts, along with a net purchase of financial assets amounting to $2.1 billion, not only showed increasing investor trust and trade vitality but also positioned Ghana as a rising economic power in the region.

Yet beneath the macroeconomic optimism lies a more profound narrative, one that affects every aspect of the national environment: from government initiatives and structural changes to the executive suites of Corporate Ghana, the hallways of the public service, and the dining rooms of everyday families. This article examines how Ghana's improved external balances are more than just statistics, they represent a sign of revitalization, endurance, and preparedness.

1. Government Efforts: Policy Reliability and Financial Flexibility

The net lending position enhances the Government of Ghana's standing in both domestic and global contexts. Initially, it strengthens Ghana’s credit rating, which leads to lower sovereign risk premiums and decreases the cost of borrowing in international financial markets. Given that the most recent Eurobond was issued in 2021 with a high interest rate of 8.875%, this enhanced external performance paves the way for more cost-effective financing in the future.

Within the country, the surplus offers more financial flexibility. The government's Medium-Term Revenue Strategy (2024–2027), which depends on increasing non-tax revenues and reducing inefficient spending, now has a safety net to protect investments in the social sector. Initiatives such as Agenda 111 (health infrastructure) and the YouStart program (youth entrepreneurship) may now be sped up as macroeconomic reserves grow.

Additionally, following the International Monetary Fund (IMF) approving Ghana's second review under the $3 billion Extended Credit Facility (ECF) in April 2025, the BoG's external sector report presents a strong argument for ongoing assistance and potential adjustments to the disbursement schedule.

1. Ghana's Renewal Plan: Building the Basis for Deep Economic Change

The "Ghana Reset Agenda," introduced in 2023 to address the economic challenges caused by the pandemic and subsequent IMF reforms, seeks to fundamentally shift the economy toward export-driven growth, digital advancement, and industrial development. A $2.2 billion surplus in the current and capital accounts, driven by increased exports of cocoa, gold, and crude oil, along with inflows from remittances, indicates that the initiative is starting to show results.

Significant contributors include:

1. Gold Exports:

Ghana continued to hold its rank as the leading gold producer in Africa, with exports reaching $2.9 billion in the first quarter of 2025 (Minerals Commission Report, April 2025).

1. Non-Traditional Exports:

Including shea butter, horticultural items, and processed foods, these increased by 18% compared to the previous year, indicating progress under the National Export Development Strategy.

1. Remittance Inflows:

A 12% rise in funds sent by the diaspora (from $1.06 billion in Q1 2024 to $1.19 billion in Q1 2025) reflects renewed international trust and a strong diaspora financial sector.

This enhanced external image provides the Reset Agenda with the financial credibility and story-driven momentum required to move from handling crises to promoting growth and transformation.

1. Growth in the Public Sector: Efficiency, Funding, and Digital Development

The government sector, historically weighed down by salary expenses and inefficiencies, has the potential to gain significantly from enhanced performance in the external sector. As risks related to external funding decrease, the Public Investment Programme (PIP) can be broadened to encompass infrastructure upgrades, digital transformation, and strengthening the capabilities of the public sector.

This may speed up the execution of:

1. gov Platform Improvements – aiding in electronic revenue collection, which increased by GH₵1.4 billion in Q1 2025 (GRA Quarterly Report).
2. Digital Public Service Provision – allowing Ministries, Departments, and Agencies (MDAs) to implement cloud technology and biometric solutions with improved financial backing.
3. Transport and Utility Modernization – due to enhanced access to preferential loans and bilateral agreements, such as the Ghana-Germany Green Transition Agreement concluded in March 2025.

Macro stability also enables the government to tackle unpaid wages, implement evaluations based on performance, and streamline staffing to enhance service provision in education, healthcare, and local administration.

1. Corporate Ghana and Small and Medium Enterprises: A Breathing Room for Expansion

For Corporate Ghana, especially Small and Medium Enterprises (SMEs), the effects of this external sector growth are dual: consistency and cost-effectiveness.

1. Exchange Rate Stability:

The cedi increased by 3.4% compared to the dollar from January to April 2025, helping to stabilize input expenses for companies that rely on imports.

1. Lower Interest Rates:

As inflation decreases (from 23.5% in January 2025 to 18.7% in May 2025) and external balances improve, the Bank of Ghana has the flexibility to reduce the Monetary Policy Rate, which is now at 27.5%, possibly leading to lower commercial loan rates.

1. Access to Capital:

The net acquisition of financial assets indicates increased capital inflows into the private sector. So far, banks like CalBank and Fidelity Bank have already introduced new export credit lines and SME financing programs in April 2025.

This enhanced environment allows businesses to allocate resources towards technology, employee development, and manufacturing capabilities, particularly in key areas such as agribusiness, fintech, and light industry.

1. Households in Ghana: Aid, Security, and Revitalized Trust

For the typical Ghanaian family, economic progress might seem far removed, but its impact is tangible and can be quantified:

1. Lower Inflationary Pressures: As food price inflation declines (from 28.3% in December 2024 to 17.6% in May 2025), families are able to make spending decisions with greater confidence.
2. Job Availability: Industrial consistency and increased government funding lead to employment opportunities in construction, transportation, and service sectors. The YouStart initiative and the Ghana Enterprises Agency (GEA) have recently stated that more than 15,000 new micro, small, and medium-sized enterprise positions were established in the first quarter of 2025.
3. Cedi Value: A stronger cedi helps lower imported inflation, enhancing buying capacity. For example, the cost of imported rice dropped from GH₵680 per 50kg bag in January 2025 to GH₵590 in May 2025.

In addition, individuals receiving remittances, who make up almost 20% of Ghanaian families, now benefit from improved transfer rates and greater assistance with education, healthcare, and housing.

Final Thoughts: From Excess to Environmental Responsibility

Ghana's net lending position globally in the first quarter of 2025 is more than just a numerical detail; it serves as an indicator of economic strength and revival. However, the challenge lies in maintaining these achievements through financial responsibility, export competitiveness, and equitable growth.

The chance is evident and translates macro-level success into tangible sectoral change, driving governmental reform, enabling businesses, reinforcing public services, and enhancing household welfare.

With Ghana redefining its path through the Reset Agenda, this advancement in the external sector should act as a base for economic respect, national self-belief, and long-term growth. The moment is right, not only to acknowledge a surplus, but to use it as a stepping stone with intention.

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From Slogan to Action: Mahama's Revived Drive for Progress

By Constance Gbedzo

In my earlier article, which was featured in the B&FT on Thursday, 18th April 2024, titled 'The Cost of Following Poor Corporate Governance Practices for the People of Ghana', I aimed to bring to the attention of Ghanaian leaders Section 36 (1) within the Directive Principles of State Policy and Economic Objectives, which states that 'the State must take all necessary measures to ensure that the national economy is managed in a way that maximizes economic growth and ensures the greatest possible well-being, freedom, and happiness for every individual in Ghana, while also providing sufficient means of subsistence, suitable employment, and public support for those in need'.

It was clear at that time that 'the state has truly let its people down.' 'Leadership, over the years, has promised the youth hope but delivered despair instead.' 'It seems that Ghana is functioning without a clear objective, which is why we continually lose direction in bringing about social and economic progress for the people.' 'Those responsible for managing the Ghanaian economy have made the issues more complicated than they need to be.' There was a strong appeal that 'they must simplify Ghana's development programs to focus on the productive parts of the economy and make more careful decisions.' 'Clearly, we need to establish our nation's purpose. This purpose determines the level of our shared commitment to accomplish something, living with a plan, aiming for a goal, and striving to achieve that plan.'

Nevertheless, it is becoming evident that in a political environment frequently marked by grand promises and broken commitments, His Excellency, President John Dramani Mahama seems resolved to change the story.

Having recently assumed office for a non-consecutive second term in January 2025, Mahama has quickly begun transforming his campaign promises into tangible initiatives, showcasing a fresh dedication to tackling Ghana's significant economic and social issues. The belief that "the leader truly matters" is strongly reinforced by the initial steps taken by President Mahama.

His rapid shift from campaign pledges to concrete policy execution, especially regarding the 24-Hour Economy, highlights a forward-thinking and outcome-focused strategy that could greatly influence Ghana's socio-economic development.

In numerous ways, the President's early actions demonstrate the significance of strong leadership.

• Translating Vision into Action:The 24-Hour Economy played a key role in his election platform. The official launch occurring only a few months into his presidency, along with comprehensive policy papers and an advisory panel, indicates a strong determination to go beyond mere talk. This swift action demonstrates a leader who is resolute and dedicated to fulfilling his pledges.
• Strategic Economic Overhaul:President Mahama highlighted that the 24-Hour Economy is not merely about increasing working hours, but rather a broad strategy aimed at boosting productivity, creating more opportunities, and speeding up exports through carefully planned and inclusive measures, making it a multi-dimensional approach. It involves tax breaks, reduced electricity rates, expedited regulatory approvals, and better access to financing for businesses that operate continuously. This holistic method, intended to enhance productivity, exports, and employment, reflects thoughtful planning and an awareness of the interrelated nature of economic elements. The initiative seeks to drive economic expansion, generate high-income jobs, and increase Ghana's competitiveness globally. It is expected to influence several sectors, including agriculture, manufacturing, and public entities with significant customer volumes like ports and harbors.
• Addressing Core Economic Challenges:Mahama's emphasis on sectors such as agriculture, manufacturing, and export diversification tackles Ghana's prolonged dependence on unprocessed commodity exports. The creation of anAccelerated Export Development Advisory Panel, led by the President personally, highlights this dedication, with an objective to increase Ghana's non-traditional export revenues from $3.5 billion per year to a minimum of $10 billion by 2030. Clearly, President Mahama is establishing challenging yet quantifiable goals that, if met, could significantly reshape Ghana's economic and social environment.
• Financial Accountability and Tax Policy Changes:The removal of unliked taxes such as the E-Levy, betting tax, and emissions tax, as mentioned in his administration's 2025 budget, offers real support to individuals and companies. Although this poses a difficulty for generating income, it also shows an openness to public opinion and a desire to reduce the pressure on regular Ghanaians. The implementation of new financial guidelines, such as an Independent Fiscal Council and a limit on debt, further demonstrates a dedication to prudent economic management.
• Prioritizing Social Welfare:In addition to economic renewal, Mahama's government is showing a forward-thinking approach towards social welfare and leadership. The swift focus on older adults, such as initiatives to enhance the pension system and improve the National Health Insurance Scheme, reflects a leader who values social support systems and the respect due to the elderly. Bringing back free sanitary products for female students and increasing access to education also show this dedication.
• Future Goals and Organizational Development:President Mahama has assigned the newly established 8th National Development Planning Commission (NDPC) the responsibility of merging current long-term development strategies into a single, consistent plan that goes beyond political terms. This initiative mirrors Ghana's first President Kwame Nkrumah's idea for sustained national progress, seeking to decrease dependence on raw materials and promote lasting growth. The goal is to ensure stability and consistency in national development, regardless of shifts in leadership, showcasing a sophisticated and progressive approach.
• International Engagement:In keeping with his longstanding dedication to social justice, President Mahama has also been a strong voice on the global stage. In February 2025, during the 38th Ordinary Session of the African Union Assembly, he urged unified efforts regarding reparations for historical wrongs experienced by Africans and people of African heritage, in line with the AU’s Agenda 2063. This highlights a wider perspective that goes beyond national boundaries, establishing Ghana as a leader in tackling regional challenges. His clear readiness to support pan-African causes enhances Ghana's standing internationally.

Although Ghana continues to face major challenges such as ongoing economic difficulties and the necessity for debt restructuring, President Mahama's first few months in power show a strong commitment to moving past empty promises. His government's emphasis on practical execution, forming strategic alliances, and adopting a comprehensive strategy for national progress indicates a genuine attempt to meet the expectations of Ghanaians. The shift "from slogan to action" demands firm political resolve, effective team formation, and a well-defined plan, all of which appear to be characteristics of the President's current strategy. The upcoming months will certainly assess the success of these efforts, but the initial signs point to a leader dedicated to tangible actions rather than just empty words.

At heart, President John Mahama's initial steps in his second term reveal a leader who is not only clear in his vision but also deeply involved in the complex aspects of putting policies into action. Although the ultimate effectiveness of these efforts is yet to be determined, the early showing of leadership in turning pledges into real strategies is a strong sign that the leader does make a difference.

As a business development specialist and social entrepreneur, my recommendation to Ghanaians is that President John Mahama's efforts, especially the 24-Hour Economy, offer a major chance for us to enhance our economic situation and support national growth. To make the most of these policies, individuals, business owners, and companies should be active and plan wisely.

It is essential to remain updated, take part in national discussions, build connections and work together, adopt digital changes, and maintain financial responsibility. By actively involving themselves and gaining a clear understanding of President Mahama's programs, Ghanaians can place themselves in a position to gain personal advantages while also making a substantial contribution to the country's economic renewal and development.

The author is an expert in Risk and Enterprise Development.

Provided by SyndiGate Media Inc.Syndigate.info).

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What is an ISA and How Could Rules Evolve?

Chancellor Rachel Reeves is reportedly considering adjustments to the regulations governing tax-free Individual Savings Accounts (ISAs).

The specifics are anticipated to be outlined in her Mansion House address on Tuesday - a traditional platform for chancellors to present their strategic outlook to financial sector leaders.

However, some have cautioned against modifying a widely-used savings option.

What are ISAs and how much money can be saved within them?

An Individual Savings Account (ISA)is a financial product that is handled in a distinct manner when it comes to taxation.

ISAs are available through various banks, housing associations, investment firms, and other financial institutions.

All returns from an ISA are tax-exempt, although there is a cap on the amount you can contribute annually.

The existing annual allowance of £20,000 can be utilized in a single account or distributed among various ISA products according to your preference.

These accounts do not automatically close once the tax year ends. At the start of the following tax year, you have the option to open a new ISA or, in certain situations, continue contributing to your current accounts.

You must be 18 years old to establish an ISA. Additionally, you need to reside in the UK or be part of the military forces or a so-called Crown employee working overseas.

Individual Savings Accounts were initially launched by former chancellor Gordon Brown in 1999, but the yearly limit and their structure have undergone multiple modifications since that time.

What distinguishes cash ISAs from stocks and shares ISAs?

Cash ISAs are commonly provided by financial institutions or housing associations, and operate similarly to a regular savings account.

Individuals deposit funds, and additional interest is applied thereafter.

With standard savings accounts, when the interest exceeds a specific limit,you begin to owe income tax.

A taxpayer who pays the standard rate can earn £1,000 in interest from savings each year without owing tax. For those who pay a higher rate, the limit is £500, while taxpayers in the additional rate bracket have no allowance and are taxed on all their savings income. Individuals with lower incomes might qualify for an additional allowance.

If you save money in a cash ISA, the interest earned is tax-free regardless of your income level.

Cash ISAs are widely used, with millions of investors keeping billions of pounds within them.

Stocks and shares ISAsoperate in a very similar manner.

However, rather than being kept in a savings account, the funds are allocated to stocks in businesses, unit trusts, investment funds, or bonds.

In contrast to other investments, all returns are exempt from income tax and capital gains tax.

Importantly, although the potential gains may be higher, the dangers are also significant. The value of your investments within a shares ISA can decrease as well as increase.

What other forms of ISA exist?

Junior ISAsallow teenagers to save money — or have their parents save on their behalf — until they turn 18, at which point they can access standard ISAs.

Lifetime ISAs (LISAs)They are intended to assist individuals in saving for a down payment on their first home or for retirement. Contributors can deposit up to £4,000 annually, with the government providing an additional 25%.

However, critics claim the regulations governing their operation are excessively rigid, and some investors have encountered issues with property purchase price caps.

Innovative Finance ISAsallow individuals to utilize different forms of financial agreements, such as peer-to-peer lending, without involving a traditional bank.

In what ways could the ISA regulations be modified?

Although there has been significant media discussion, Chancellor Rachel Reeves has not yet revealed her strategies.

Documents published by the Treasury during the June Spending Review mentioned only that the government was "considering possibilities" regarding ISA changes.

It aims to "achieve the proper balance between cash and stocks to generate improved returns for savers, enhance the retail investment culture, and aid the growth initiative."

Nevertheless, it is anticipated that Reeves will deliver a statement during her Mansion House speech in the City of London on 15 July.

Several professionals believe she may lower the yearly contribution limit for cash ISAs.

Some people have suggested that she should eliminate cash ISAs entirely, but this is seen as highly improbable.

What could be the reasons behind the government reducing the cash ISA allowance?

It is believed the government aims to motivate savers to invest funds in stocks and shares ISAs rather than cash ISAs. This might help British businesses and stimulate economic growth in the UK.

Several investment firms that offer stocks and shares ISAs support the change, whereas banks and building societies, which are leading in the cash ISA sector, oppose it.

Supporters argue that there are billions of pounds sitting in savings accounts, which do not require immediate access.

Some claim that funds would be more effectively utilized for individual and collective benefit if invested in stocks and shares over an extended period, instead of remaining in savings accounts.

They desire that any modifications to the ISA regulations be accompanied by additional changes aimed at promoting individual investment.

What are the disadvantages of reducing the cash ISA allowance?

Critics argue that there is limited proof that this action would prompt individuals to allocate funds to stocks rather than keep money in cash.

They caution that many individuals might not save at all, or would end up paying higher taxes on funds kept in non-ISA accounts.

Specifically, building societies highlight that this would also decrease the funds they obtain from savings deposits, which can subsequently be used for mortgages or other forms of lending.

Consequently, the expense of taking a loan may increase.

• Seven methods the Budget Review will impact you
• One out of ten individuals have no savings, according to the financial regulator.
• Proposal to increase savings protection to £110,000

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Editorial: Tackling Ongoing Energy and Cocoa Challenges

Ghanaian officials are being called upon to firmly tackle ongoing issues in the energy and cocoa industries as part of initiatives to maintain the nation's continuous financial policy adjustments under the US$3 billion IMF assistance program.

This announcement follows the IMF's Executive Board approving the fourth review of its Extended Credit Facility (ECF), releasing an additional payment of US$367 million.

The economy experienced higher-than-anticipated growth in 2024 and the beginning of 2025, driven by strong performance in mining, agriculture, ICT, and manufacturing. Nevertheless, the main program's effectiveness declined towards the end of the previous year because of fiscal overspending before the election and postponements in structural reforms.

Early data indicated a significant increase in unpaid government debts before the December 2024 general elections, as inflation exceeded IMF projections. The indicator ended the year at 23.8 percent – 80 basis points higher than the prior period and more than twice the Bank of Ghana's desired maximum threshold.

Despite the obstacle, the new administration has implemented what the IMF referred to as "courageous corrective measures." Bo Li, Deputy Managing Director of the IMF, noted that officials are firmly dedicated to reinstating financial discipline and tackling the structural issues that caused the setbacks.

"Strongly tackling issues within the energy industry and associated unpaid bills is essential for limiting financial dangers," he said.

There is no doubt that the energy sector remains a major strain on public funds. State-run electricity companies are experiencing increasing unpaid bills because of problems with collecting revenue, old debts, and delays in adjusting tariffs to reflect actual costs.

The power sector is estimated to have accumulated debts of US$3.1 billion as of March 2025, with an estimated US$3.7 billion required to fully clear all outstanding arrears. Indeed, analysts think the situation presents a direct threat to the fiscal consolidation goals set out in the rescue program.

Likewise, the cocoa industry is facing challenges even though the price of the commodity has reached record levels. Global cocoa prices saw extreme fluctuations, reaching a high of more than US$10,700 per tonne in the first quarter of 2025 because of significant supply issues resulting from adverse weather conditions and disease outbreaks in Ghana and Côte d’Ivoire.

This represented a 60-year peak, fueled by concerns over an increasing global cocoa shortage. Nevertheless, prices are starting to decrease slowly – dropping to approximately US$8,400 per tonne. Elements like old trees, disease occurrences, smuggling into nearby nations, and worldwide price fluctuations have limited income from one of Ghana's major export products.

Nevertheless, although authorities are making every effort to restore macroeconomic stability, the IMF's statement of concern and caution directed at the government regarding its management of the cedi's stability deserves consideration.

The Institute for Economic and Research Policy Promotion (IERPP) agrees with the IMF's stance and additionally shows support for it.

During its fourth review under the Extended Credit Facility Agreement with Ghana, the IMF's Executive Board raised worries regarding the government's practice of injecting foreign exchange to prop up the cedi against major currencies, rather than letting market forces dictate the local currency's strength.

Even though the Bank of Ghana needs to keep a sufficiently strict monetary policy until inflation reaches its goal, it should lessen its involvement in the foreign exchange market and permit more exchange rate flexibility.

In a statement signed by its Executive Director, Prof. Isaac Boadi – who also serves as Dean of the Faculty of Accounting and Finance at UPSA – the IERP mentioned that it provided a comparable warning to the government, but its recommendations were ignored.

The IERPP noted that although this could make the currency appear stable in the short run, it misleads market conditions. Indeed, the IERPP criticizes the BoG for conducting its market activities in an arbitrary and unclear way.

A constructive exchange between the central bank and research institutions such as the IERPP regarding economic policy is essential; this lack of communication, we believe, is concerning—particularly since the IERPP claims that the BoG and the government clearly ignore both IMF and IERPP recommendations.

It would be beneficial if the central bank issued a statement to tackle these valid worries, as such actions frequently result in ambiguity and guesswork. We ought to let the currency rate be determined by real market conditions.

Provided by SyndiGate Media Inc.Syndigate.info).

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GTYA Praises Ghana's Informal Sector Revenue Plan; Calls for Economic Reforms

The head of Green Tax Youth Africa (GTYA), Mr. Nii Addo, has praised the Ministry of Finance and the Ghana Revenue Authority (GRA) for their courageous and well-planned initiatives in tackling Ghana's persistent revenue collection challenge within the informal sector.

If implemented effectively and with adequate backing, the new policies have the potential to significantly enhance Ghana's financial capacity and direction of growth, given that more than 80% of the nation's revenue prospects are linked to this area.

Mr. Nii Addo characterized the action as "well-timed and forward-thinking," highlighting that it demonstrates a robust governmental reaction to persistent demands from interested parties to introduce innovations and expand the tax base for more fair and inclusive domestic resource generation, which should ultimately reduce the pressure on the formal sector.

This policy approach represents a positive move forward. The informal sector continues to be the foundation of Ghana's economy and its potential for generating revenue. Enhancing tax adherence within this area can greatly reduce the budget shortfall and promote equitable growth, said Mr. Addo.

Nevertheless, GTYA calls on the government to support these initiatives with essential macroeconomic reforms aimed at protecting low-income individuals, especially young people and women, from increasing inequality. Mr. Addo highlighted recent increases in utility bills and rising fuel prices, which place a heavier burden on essential consumers and weaken household stability.

Key Economic Strategy Suggestions from GTYA

1. GTYA urges the Public Utilities Regulatory Commission (PURC) and the government to update the quarterly electricity increase system, which has widened the inequality gap and impacted essential consumers, particularly in low-income areas.
2. Increasing fuel costs, resulting from high taxes and charges, have widespread impacts on transportation, goods, and service provision. GTYA suggests limiting all fuel-related taxes and charges to GH¢1.50 at the pump, as currently being done, to offer financial support and enable citizens to benefit from Ghana's oil resources.
3. GTYA urges the government to reclaim every cedi that was improperly obtained by individuals with political influence and public officials, whose unaccounted wealth implies the improper use of state assets. These resources should be channeled towards initiatives focused on public development.
4. Ghana suffers significant financial losses each year due to corporate tax avoidance, manipulation of transfer pricing, and other illegal capital movements. The government needs to enhance regulatory and tax management frameworks, improve transparency regarding beneficial ownership, and enforce severe consequences for multinational tax exploitation.
5. GTYA cautions that too many tax breaks and exemptions, particularly for foreign companies, are depleting government funds. These measures should be reviewed and connected to specific socio-economic performance metrics, such as job generation, knowledge sharing, and involvement of local resources.

6. Ghana holds the position of the 12th most costly nation in Africa, meaning the government needs to act quickly

   respond to the high cost of utilities, rent, food, and transportation, which continue to be essential but expensive

   unaffordable for many.

7. GTYA supports progressive tax measures aimed at wealthy individuals, such as taxes on private jet users, those traveling in first class, and cargo shipping companies, in line with suggestions from the Financing for Development Conference held in Seville, Spain, on June 30th, 2025.
8. These "environmental levies" can support climate resilience and technological advancement efforts while promoting financial fairness.

Call to Action

Mr. Addo ended by calling on civil society organizations, academic institutions, private sector leaders, and international development partners to assist the government in creating a fairer and stronger financial system, based on fairness, effectiveness, and long-term viability.

"The real test of effective economic policy lies in its effect on the everyday lives of regular people. If citizens don't experience relief within six months of being put into action, we need to go back and adjust our approaches. Ghana needs to meet this challenge," Mr. Addo said.

Provided by SyndiGate Media Inc. (Syndigate.info).

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