Government will stay the path of economic progress – Prez Mahama

President John Dramani Mahama has stated that the government will stay the path towards economic progress.

He said the economic prospects of the country had been predicted by recognised institutions to be very good and the government will continue to put its fiscal house in order to reap the benefits.

The President said this Monday when he swore in the new Governor of the Bank of Ghana (BoG) Dr Abdul Nasiru Issahaku, and the Second Deputy Governor, Dr Johnson Asiamah at the Flagstaff House.

Dr Issahaku, 54, who until the appointment was the second deputy governor, replaced Dr Henry Kofi Wampah.

Responsibility 

President Mahama told the new Governor that he had risen to a position of great responsibility and that a lot was expected of him.

He said with Dr Issahaku having been part of the system for a good number of years, there was every hope that he would rise to the task.

Fortunately, the President said, the governor has a lot of competent hands to support him.

Decisions 

President Mahama said the government had taken tough but important decisions, which had contributed to the progress achieved so far.

He said one important feature in the economy was the zero BoG financing of government budget. 

Touching on Ghana's programme with the International Monetary Fund (IMF), the President said it was proceeding very well. "Progress under the programme has been very good," he said.

Focus

Responding, Dr Issahaku said the Bank was focusing seriously on economic resurgence and explained that measures were being instituted to bring down inflation. 

He said even though 2016 is an election year, "we have to stay focused", saying also that "Growth is beginning to pick up and we have to stay the course".