IFC says Ghana could be fastest growing economy in 2020 

Mr Sérgio Pimenta, Vice President of the International Finance Corporation(IFC), for the Middle East and Africa, says Ghana can be one of the fastest growing economies in the world, in 2020 if the government maintains its prudent economic management system.

He noted the financial performance of Ghana had been very positive.

“I believe that Ghana has even the potential to be one of the fastest growing economies in the world next year, if all growth continues in the right directions,” Mr Pimenta stated during a media interaction in Accra.

“There is a very good background for private sector investment to come to Ghana. But when we look at the level of investments, both of domestic investments and foreign sector investments, clearly there is opportunity to even do more. This is why IFC can do more in attracting quality investments of companies with all the best practices who can come in and contribute to the development of the country, creating jobs for women, men and youth of the country,” he added.

The IFC is a sister organisation of the World Bank Group.

It is the largest global development institution focused on the private sector in emerging markets.

“Ghana is a very important country for us, it is one of the largest exposures in the continent. It’s among the top five countries in terms of exposure for IFC in Africa,” he said.

He said the IFC had committed over the last five years about 2 million of financing to Ghana.

He said the IFC had been active in several wide range of sectors of Ghana’s economy such as infrastructure, financing institutions, agricbusiness and tourism.

He said the purpose of his visit, is to look at how IFC could continue to support Ghana in the future and how it could do more to help Ghana pursue its development cause and reach even stronger performance.

Source: GNA