{"id":200571,"date":"2024-07-17T12:04:29","date_gmt":"2024-07-17T12:04:29","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/07\/17\/recent-data-shows-the-economy-is-recovering-bog\/"},"modified":"2024-07-17T12:04:29","modified_gmt":"2024-07-17T12:04:29","slug":"recent-data-shows-the-economy-is-recovering-bog","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/07\/17\/recent-data-shows-the-economy-is-recovering-bog\/","title":{"rendered":"Recent data shows the economy is recovering \u2013 BoG \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has indicated that recent data from other independent actors backs argument that the economy is recovering.<\/strong><\/p>\n<p>Speaking at the SME Growth and Opportunity Summit in Accra on July 16, 2024, the Governor argued that the debate should be focused on the numbers and how it is helping stabilise the situation now.<\/p>\n<p>\u201cThe exchange rate, which recently came under some pressure, has begun to stabilise as uncertainties surrounding the progress of debt restructuring negotiations with external creditors has been eliminated and the Bank of Ghana\u2019s Gold Purchase programme over performed,\u201dhe stated.<\/p>\n<p>On Ghana\u2019s Gross International Reserves position, Dr Addison said there has been a significant improvement.<\/p>\n<p>\u201cAt the end of April 2024, the stock of Gross International Reserves increased to US$6.59 billion representing 3.0 months of import cover, compared with US$5.91 billion (2.7 months of import cover) at end-December 2023,\u201d he announced.<\/p>\n<p>Dr. Addison further said the central bank will continue to embark on strategic mechanisms to engage the small and medium scale sector.<\/p>\n<p>He, however urged other industry stakeholders to be heavy on investments for the sector to increase the country\u2019s export.<\/p>\n<p>\u201cLet me also add that the Bank of Ghana recognizes the potential role of SMEs in Ghana and in this light has commissioned a study in collaboration with the Development Bank of Ghana and University of Ghana Business School to better understand the constraints of the SMEs to targeted policies to ensure growth,\u201d he added.<\/p>\n<p>The Governor assured that the BoG will continue to provide a comprehensive financial development programme that provides SMEs with financial and digital literacy training, as well as offers the opportunity for SMEs to obtain trusted digital credentials, enhancing their access to financial services and cross-border trade connectivity.<\/p>\n<p>Myjoyonline.com <\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has indicated that recent data from other independent actors backs argument that the economy is recovering. Speaking at the SME Growth and Opportunity Summit in Accra on July 16, 2024, the Governor argued that the debate should be focused on the numbers and how [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":195707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-200571","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Recent data shows the economy is recovering \u2013 BoG \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/07\/17\/recent-data-shows-the-economy-is-recovering-bog\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Recent data shows the economy is recovering \u2013 BoG \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has indicated that recent data from other independent actors backs argument that the economy is recovering. 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