Ghana adjudged global top reformer in improving access to credit
Ghana has been recognised as the global best reformer in improving access to credit for firms, according to the World Bank/IFC's "Doing Business 2011 Report".
IFC Vice-President Thierry Tanoh, wrote in a letter to Ghana's central bank governor, Kwesi Amissah-Arthur: "This singular accomplishment by your team at the central bank has improved Ghana's ease of doing business ranking and ensured that the country remains overall, the easiest place to do business in the West Africa sub-region." The report notes that among the 30 most improved economies in the world, over the last five years, a third are in Sub-Saharan Africa, of which six, including Ghana, are in the Economic Community for West African States.
A fundamental premise of the report is that sustained economic activity requires an accessible, efficient and predictable legal and regulatory environment. "Against the backdrop of a continuing global economic crisis, Ghana has maintained leadership in the sub-region. This is a noteworthy achievement," the letter said.