Communications Member of the United Party (UP), Afia Korankyewaa, has praised the government’s efforts in stabilizing the Ghanaian economy, emphasizing that the next step is to sustain this stability.
Speaking on UTV Ghana on November 27, 2025, she highlighted the importance of interest rates in driving economic growth.
Korankyewaa noted that multiple factors, including the policy rate, reference rate, inter-bank rate, and treasury bill rate, collectively influence the overall interest rate in the economy.
“A lot goes into stabilising the interest rate before it reflects in the economy,” she said.
She commended the government for successfully reducing interest rates but stressed the need to see tangible effects in everyday business activities.
“In every town, when there is a low interest rate, it boosts production. Business people can easily access loans to expand their operations, which creates employment due to higher demand for labour. Consequently, more money circulates in the system,” she explained.
Korankyewaa added that the interest rate affects Ghanaians both directly and indirectly. She compared Ghana to neighbouring countries, noting that many operate a single interest rate system, which offers simplicity and efficiency.
“We have more room for improvement, but we have to start from somewhere and end somewhere. The government should continue monitoring and implement additional measures to sustain growth,” she concluded.
