BUSINESS and FINANCE, POLITICS and GOVERNMENT

Ghana: IMF Bailout Ushers US Investments

More U.S companies will be investing in Ghana in coming months because of the recent IMF bailout, US ambassador to Ghana has said

Gene Cretz, the US ambassador to Ghana, has said that more American companies will be keen to do business in Ghana over the coming months due to the bailout that the West African nation recently received from the International Monetary Fund (IMF).

The new investments, Cretz explained, would come as a result of economic recovery occasioned by the bailout. Most investors and companies had hitherto held back investments due to Ghana’s ailing investments.

“We have a network of companies we are talking to, the state department is encouraging companies to come and our commercial department is very active in getting out the information that the situation in Ghana is beginning to turn and now is really the appropriate time to come here,” he said.

The companies are expected to invest in infrastructure, oil and gas, technology, and transportation

Confidence

Cretz argued that the IMF’s decision to ink a deal with Ghana spoke to the international lender’s confidence in the Ghanaian government.

cretz

Cretz says IMF’s bailout shows the international lender has confidence in Ghana’s government

“We are hoping that that confidence in the program will translate into confidence among international investors because whenever you get the IMF seal of approval, you’ve got pretty much the best you can get,” he said.

About the Author

Lennox is a public relations professional and seasoned writer who works with leading local and multinational brands operating in
Kenya and Africa. He is also an assistant catechist at his local Catholic parish and uses this position to sensitize members of his
community on the importance of fighting inequality. In the long-term, Lennox aspires to inspire Africans in all sectors of society to fight
all forms of inequality, as the continent is disproportionately affected by inequality when compared with the rest of the world

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