[20] Despite the role of monetary policy in creating an enabling environment, promoting long-term growth is a complex process and requires the support of structural reforms that seek to remove “binding constraints” on the business environment to ensure sustainable growth. Clearly, monetary policy is limited beyond the scope of resolving structural bottlenecks that often constrain growth in the Ghanaian economy.
Our corporations and governments have strong balance sheets, our financial institutions are among the most resilient in the world, and our economy can be geared to the future sources of global growth. To take advantage of these attributes, we will need continued, heavy investment to improve productivity and sustained, innovative efforts to develop new markets.