Ghana’s recovery positively surprising – EU

The European Union (EU) has expressed cautious optimism about Ghana’s improving economic outlook, describing the country’s recovery trajectory as unexpectedly strong. They stated that long-term stability will depend on sustained reforms.

European Union Ambassador to Ghana, H.E. Rune Skinnebach, made the remarks during a press briefing to launch Europe Month in Accra, where he noted that recent macroeconomic signals suggest a rebound that has exceeded earlier expectations.

According to him, Ghana’s current progress is encouraging, but not yet secure, stressing that continued policy consistency and structural adjustments will be critical in preventing a reversal of recent gains.

He explained that while domestic efforts have contributed significantly, external influences—including global commodity prices and ongoing debt restructuring outcomes—have also played a role in stabilising the economy.

“It is a development that we follow closely that is positively surprising,” he said. “We need to keep that situation sustainable because success is based on reforms, it is also based on gold prices, debt restructuring efforts and we cannot have that coming up again.”

The Ambassador cautioned that overreliance on favourable external conditions could expose the economy to future shocks if reforms are not deepened and institutional discipline maintained.

On a separate issue concerning historical injustice and slavery, Mr. Skinnebach addressed questions about the EU’s position during a recent United Nations vote. He clarified that abstaining from the vote should not be interpreted as denial of the historical realities of slavery.

He emphasised that EU member states continue to acknowledge the legacy of slavery in different forms, with several countries already engaging in restitution efforts, including the return of cultural artefacts taken during the colonial era.

Beyond economic and historical issues, the Ambassador also outlined the EU’s broader development priorities in Ghana, particularly its focus on reducing regional inequalities.

He noted that a significant share of EU development assistance is directed toward northern Ghana, with about 60 percent of programmes targeted at the area. This, he explained, is intended to address structural vulnerabilities and reduce the risk of instability spilling over from neighbouring countries facing socio-economic pressures.

The EU maintains that its partnership with Ghana remains anchored on development cooperation, governance support, and long-term economic resilience.