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Ghana charged to watch out for potential risks as it deepens diversification

The Economic Outlook of Ghana has been given a pass mark by the Chief Economist for Africa at Standard Chartered Bank, Razia Khan.

In an interview with Business Hilights Ghana Bureau chief in Accra, the ace economist advised the government not to be carried away by indications of success in its ongoing economic diversification and back the progress with building of resilience against potential shocks.

In his submission, the expert averred that “Ghana was heading into the right direction with the reforms under the Extended Credit Facility (ECF) programme of the International Monetary Fund (IMF) and called for the institutionalisation of the reforms going forward”.

“It is on the right road. It is headed in the right direction; the progress is still going to be monitored for another year. There is a lot that Ghana needs to do to properly institutionalise such reforms,” she said.

“Sometimes, what gives investors more confidence is that we do see those reforms that become so deeply embedded that there is no longer a need to go from programme to programme,” she added.

According to him, Ghana really stood out among sub-Saharan African peers in economic performance and attributed that to the reforms the country was undergoing which it has followed without any form of distortion so far.

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