GTP will move Ghana beyond IMF dependency – Alan

Source The Ghana Report

The former Minister of Trade and Industry, Alan Kyerematen has reiterated that his Great Transformational Plan (GTP) as a new direction towards accelerated growth will position the country to break the cycle of International Monetary Fund  (IMF) dependency.

According to Alan, the GTP aims to foster a more self-reliant and resilient economy, propelling Ghana from a state of stability and growth to one of transformation.

He stressed the need for a comprehensive plan to guide the nation beyond the transitional Post-COVID Economic Recovery Programme (P-CERP) currently underway with IMF support.

“The recent IMF bailout served as a lesson that Ghana’s economy remains fragile, vulnerable, and prone to external and domestic shocks. This vulnerability to the country’s heavy reliance on commodity exports with limited value addition. The projected 5.1% GDP growth for the Ghanaian economy in 2023 hinges on anticipated increases in global commodity prices,” Mr. Kyerematen lamented.

The NPP Presidential aspirant said, “Government has the power through policy to turn the economy around in the preferred direction”.

”The success of the GTP, will rely on robust macroeconomic fundamentals. These include maintaining a stable currency, managing inflation rates, ensuring sustainable debt levels, optimizing revenue generation, exercising prudent expenditure control to achieve fiscal balance, fostering low competitive interest rates, and building strong external reserves supported by ample liquidity to fortify the financial sector,” he outlined.

Attendees at the meeting included the President of the Private Enterprise Federation, Nana Osei Bonsu, the Association of Ghana Industry (AGI), Dr. Ayim Darke, the Ghana National Chamber of Commerce and Industry, Mr. Clement Amoako, the Association of Small Scale Industries, Alhaji Mumin Saeed and the Vice President of GUTA, Mr. Clement Boateng.

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