The President of IMANI Africa, Franklin Cudjoe, has expressed strong optimism about Ghana’s economic outlook, citing improved fiscal management and reforms in the gold trading sector as key drivers of the country’s recent progress.

Commenting on developments in Ghana’s gold trade and broader macroeconomic management, Mr. Cudjoe praised the leadership of key state officials, describing them as patriots committed to safeguarding the national interest.

He singled out the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi; the Minister for Finance, Dr. Cassiel Ato Forson; and the Governor of the Bank of Ghana, Dr. Johnson Asiamah, for what he described as their instrumental roles in delivering positive economic results.

“But seriously, Sammy Gyamfi, Ato Forson and Dr. Asiamah are true patriots. The GoldBod has brought us substantial reserves which have not only helped absorb the huge losses Ghana incurred through the Gold-for-Oil (G4O) programme, but are also supporting our debt service obligations,” Mr. Cudjoe stated.

According to him, the strengthened gold reserves have played a crucial role in cushioning the economy against losses linked to the G4O programme while easing pressure on the country’s debt repayments.

Mr. Cudjoe also highlighted a marked improvement in Ghana’s debt profile, attributing the gains to fiscal discipline and effective coordination between the Ministry of Finance and the Bank of Ghana.

He noted that Ghana’s debt-to-GDP ratio had declined significantly within a year, describing the achievement as both remarkable and encouraging.

“It is instructive to note that the Finance Minister has diligently reduced Ghana’s debt from 61 percent of GDP to 45 percent in just one year,” he said.

Expressing confidence in the country’s trajectory, Mr. Cudjoe suggested that Ghana could soon move from being a recipient of international financial assistance to a contributor.

“I think we should be loaning money to the IMF so they can help other less endowed countries,” he added.