Leveraging economic stability to boost job creation and growth in Ghana- IFC
Senior Country Manager of the International Finance Corporation (IFC), Kyle Kelhofer, has emphasized that the improving economic situation in Ghana offers a unique opportunity for both the government and the private sector to implement sustainable strategies for job creation and economic growth.
He noted that Ghana’s recent progress in addressing economic challenges, including participation in the IMF programme, has led to a stabilization of key indicators such as GDP growth, exchange rates, inflation, and interest rates.
Kelhofer highlighted that this economic stability provides a favorable environment for the private sector and government to play a pivotal role in stimulating economic growth and employment opportunities.
He encouraged both entities to harness this period of increased stability to mobilize private business and investments, thereby creating jobs and promoting sustained growth.
Speaking at the inaugural Ghana Mutual Prosperity Dialogues (GMPD) held in Accra on November 2, 2023, Kelhofer stated, “Leveraging this window of increased stability to take advantage of an improved macro environment, where resources are constrained, and private business and private investment need to be mobilized to create jobs.”
He further emphasized the importance of collaboration between businesses and government, underscoring the significance of gathering to exchange ideas and seek mutual strategies that can expedite Ghana’s progress towards prosperity and stability.
The Ghana Mutual Prosperity Dialogues (GMPD) initiative is designed to enhance the country’s business environment, attract greater foreign direct investment (FDI), and bolster Ghana’s competitiveness on the global stage.
By fostering cooperation between the public and private sectors, GMPD aims to unlock investment opportunities, fuel economic growth, and create a more prosperous nation.
The Ministry of Finance spearheads this initiative, responsible for facilitating FDI dialogues in the country.
The International Finance Corporation (IFC) provides essential facilitation and technical assistance to support the government’s efforts in achieving its economic and developmental goals.
The GMPD represents a crucial step toward further enhancing Ghana’s economic landscape, fostering investment, and ultimately contributing to the nation’s prosperity and stability. It brings together various stakeholders to collaborate on initiatives that will drive economic growth and job creation in the country.
