The 24-Hour Economy Secretariat has held talks with the Bank of Ghana as it seeks to align government’s flagship growth programme with macroeconomic stability efforts, including proposals for a food-price stabilization fund and new credit instruments for businesses.
The engagement, described as part of ongoing consultations, focused on how the 24-hour economy initiative can build on recent macroeconomic stabilization by introducing targeted measures aimed at boosting production, exports and enterprise expansion.
A central item discussed was a proposed Food Security and Price Stabilisation Fund, which the secretariat said is designed to moderate food price volatility, reduce inflationary pressures and strengthen national food security, in complement to monetary policy.
Officials also explored how the financial sector could support round-the-clock economic activity through instruments such as a dedicated “24H+” credit policy, coordinated credit appraisal, syndicated lending, and recognition of credit insurance schemes.
Other topics included foreign-exchange hedging tools to support small and medium-sized enterprise lending, as well as digital platforms aimed at expanding access to trade finance.The secretariat said the meeting was an important step in building the financial services architecture needed for the program as it moves into its operational phase.
