Lagarde: How to sustain Ghana’s leadership position in W’Africa

Christine Lagarde, managing director of the International Monetary Fund (IMF), has prescribed ways in which Ghana can maintain its position as a leader in West Africa.

Lagarde, who just concluded a two-day visit to Ghana said the “IMF will remain fully engaged in Ghana’s ongoing efforts to foster prosperity and opportunities for all”.

She said with “credible and sustainable policies will support Ghana’s leadership position in the region”.

Speaking on her visit to Accra, the French economist said her “visit to Accra has been very fruitful and informative, and I am extremely grateful for the warm hospitality of the people of Ghana”.

“I commended the Ghanaian authorities for their good track record under the IMF-supported program. I encouraged them to pursue efforts to tackle the remaining challenges, including high debt, large fiscal risks from the energy and financial sectors, and governance issues.

“Increasing revenue mobilization, preserving financial stability, improving management of the energy sector, and implementing responsible polices will help anchor investors’ confidence.

“At the Conference on the Future of Work organized by the government of Ghana and the IMF yesterday, I noted that entrepreneurs and countries are taking advantage of technological advances to tackle growth constraints and provide better services to consumers and citizens.

“To best harness the opportunities of the fourth industrial revolution, we need openness to alternative development models and support for new and emerging sectors driving growth.

“As we discussed at the conference, this puts a special focus on five policy areas: traditional and digital infrastructure, education, smart urbanization, enhancing social safety nets, and trade integration.”

The IMF projects that Ghana’s gross domestic product will grow by 6.3 percent in 2018.