An Economist and Financial Analyst in the United Kingdom (UK), Redmon Thompson Kortey, has said that Ghana is not the only nation going through economic challenges in recent times.
Speaking to Kwaku Dawuro on the Movement In The Morning Political Show on Friday, June 3, 2022, Mr. Kortey noted that Ghana is not the only country faced with extraordinary increases in global freight rates, hike in fuel prices, and increase in taxes among others.
According to him, the challenges facing the country are not peculiar to Ghana as many other nations across the globe are going through same.
“These are global phenomena and it’s same here in the UK”, he said.
His comment comes on the back of Fitch Solutions Operational Risk Index rating, which places Ghana first out of 16 West Africa countries.
According to the research, Ghana scored 50.9 out of the 100 countries in trade and investment. Meanwhile, Ghana outperformed the West Africa average of 36.4 and ranks in a competitive 32nd position regionally, and in 88th place out of 201 markets globally.
The economist underscored the importance of the rating, noting that it will boost the country’s economy as many investors will be interested to invest in Ghana.
“With the rating from Fitch, I’m optimistic that Ghana’s economy will bounce back”, he expressed.
However, the Minority had advised that in the midst of the hardships in the country and the worrying debt/GDP ratio of the country, the government should seek an International Monitoring Fund (IMF) intervention which the government vehemently disagreed with.
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