A Chartered Economist, Martin Ohene Anim, has welcomed the Bank of Ghana’s decision to reduce the policy rate to 18%, describing the move as a timely measure to stimulate lending and strengthen economic activity.
In an interview on Aluta FM’s Anopa Koko with host Agyaba Kwaku, Mr. Anim explained that the policy rate remains one of the Bank of Ghana’s key instruments for controlling inflation.
According to him, “When inflation reduces, the Bank of Ghana also reduces the policy rate so that people can go for loans,” emphasising that favourable lending conditions are critical for business growth and investment.
Mr. Anim further stated that the reduction in the policy rate would enhance credit access, which in turn supports business expansion and contributes to broader economic development.
However, he cautioned that Ghana cannot depend solely on food commodities to sustain its economy.
He argued that “policy makers must ensure diversity in our exportation if Ghana wants long-term economic stability.”
Mr. Anim stressed that export diversification is essential for building economic resilience, noting that a wider export base would reduce vulnerability and strengthen national revenue streams.
He said coordinated policy decisions, combined with a strategic push for export diversification, would position Ghana for sustained economic progress.
By Awini Britney
