The outgoing Swiss Ambassador to Ghana, Benin and Togo, Simone Giger, has hailed Ghana’s macroeconomic recovery from the 2022 economic crisis but says the country must now pursue structural reforms to sustain the gains.
According to her, while recent economic indicators show significant improvement, long-term growth will depend on reforms that improve infrastructure, strengthen the business environment, and diversify the economy.
Ambassador Giger acknowledged the government’s efforts to stabilise the economy after she arrived in Ghana at the height of the economic downturn.
“They have improved. If you look at the macroeconomy, we have to say kudos to this government. It’s not easy,” she said.
She, however, stressed that macroeconomic stability alone would not be enough.
“What Ghana needs in the medium term are structural reforms,” she said. “I want to see the infrastructure that is being built. I want to see the business environment improve beyond the macroeconomic figures. There’s a lot of stuff that still needs to be done.”
Reflecting on her arrival in Ghana in 2022, Ambassador Giger said she had not anticipated the severity of the country’s economic challenges.
“I think I came here when the Cedi was around six to the US dollar, and by December it had depreciated significantly. I was like, ‘Oh my God, what have I gotten into?’ No one could have briefed me for that,” she recalled.
Despite the difficult start to her posting, she said Ghana’s economic outlook has improved considerably over the past four years, although sustained reforms remain essential to consolidate the recovery.
