Govt’s support to financial sector will fast-track the country’s COVID-19 economic recovery.
•Gerald Woods said cushioning the sector will help mobile revenue to sustain the economy in the post pandemic era
•He noted that the African Continental Free Trade Area (AfCFTA), is a good initiative that helps by raising the plot for global trade despite the downward pressure
•However, the 5th edition of the Ghana International Trade and Finance Conference will be held on July 27, 2021,
Research Fellow Gerald Wood has urged the government to resource the financial sector by providing support to help financial institutions.
According to him, this will fast-track the country’s COVID-19 economic recovery.
He made the recommendation while presenting research on the role of trade finance in the successful implementation of the African Continental Free Trade Agreement (AfCFTA).
“A higher availability of trade finance can cushion the successful implementation of the African Continental Free Trade Area (AfCFTA), by raising the plot for global trade despite the downward pressure. Supporting the financial sector’s capability to extend trade finance, can also protect the working capital,” he said.
Meanwhile, the 5th edition of the Ghana International Trade and Finance Conference will be held on July 27 2021, in Accra on the theme Facilitating Trade and Trade-Finance in AfCFTA; The Role of the Financial Services Sector.
Its general focus is to create an enabling environment for the local market to take advantage of the AfCFTA secretariat located here in Ghana to reach the international market.