31 July 2014

Ghana: Stakeholders Meet On Boosting Ghana's Foreign Exchange Resources

press release

The Vice President, H.E. Kwesi Amissah-Arthur, has called on stakeholders to design a constructive approach and fashion out a collective strategy for resolving the challenges confronting Ghana's economy. Mr Amissah-Arthur said the strategies should be able to raise inflows from both the traditional and non-traditional exports, increase the outputs and improve the profitability of the country's agricultural and industrial sectors.

He also called for the adoption of a radical import substitution agenda and the continuation of the implementation of the comprehensive structural transformation plan outlined by President Mahama.

The Vice President, who was delivering the keynote address at opening of a stakeholders' Dialogue on Boosting Ghana's Foreign Exchange Resources in Accra, yesterday, said government, on its part, would continue to review and reform its tax and tariff regimes, incentive schemes and general costs of doing business to ensure that that the country's investment climate was more competitive, attractive and welcoming.

He said the meeting was an opportunity to take actions for the implementation of the Senche Accord.

In an address, the Governor of the Bank of Ghana, Dr Henry Kofi Akpenamawu Wampah, said macro-economic stability remained key to investment promotion, adding that the tourism sector also had a strong potential for foreign exchange earnings.

Welcoming participants to the conference, Mrs Mona Helen Quartey, a Deputy Minister for Finance, stressed the need for a structural paradigm shift in the development interventions to enhance the country's foreign exchange resources.

The two-day meeting is being organised by the Bank of Ghana in collaboration with the Ministries of Trade & Industry and Finance.

In attendance are policy makers and heads of financial institutions.

Source: ISD (G.D. Zaney)

Photo: ISD (Enoch Norvor)

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