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
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 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.