The Governor of the Bank of Ghana, Dr. Ernest Addison, has expressed optimism about the country's economic trajectory.

Delivering remarks at a joint IMF, Ministry of Finance and Bank of Ghana press briefing held in Accra on March 13, Dr. Addison thanked the International Monetary Fund (IMF) team for their collaboration, which has culminated in a Staff-Level agreement, signalling a positive step towards securing further IMF support.

Dr. Addison highlighted the steadfast implementation of policy measures that have led to significant macroeconomic improvements.

He added that inflation has decreased from a high of 54 percent at the end of 2022 to 23 percent in 2023, with expectations to further reduce to 15±2 percent by the end of 2024.

“With substantial progress in these measures, we are beginning to reap substantial macroeconomic dividends. Inflation has dropped significantly from a peak of 54 percent at the end of 2022 to 23 per cent in 2023.

“The exchange rate remained relatively stable throughout last year, supported by tighter monetary policy and stronger foreign exchange reserves. Economic growth surprised on the upside,” he added.

He said that the exchange rate has also remained stable, supported by a tight monetary policy and robust foreign exchange reserves, which stood at $6.2 billion as of April 5, 2024.