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IMF FORECASTS A NEARLY 5% GROWTH RATE FOR GHANA IN 2025

The International Monetary Fund has projected a robust growth rate of 4.4% for Ghana in 2025, which is a significant increase from the 2.8% growth rate projected for 2024. This optimistic forecast was announced during the IMF’s latest April World Economic Outlook at the ongoing spring meetings in Washington DC.

The latest projection indicates an increasing optimism surrounding Ghana’s economic trajectory. As per the projection, Ghana will outperform some of the significant economies in Africa in terms of growth rate by 2025. This projection goes beyond the World Bank’s estimated growth rate of 3.3% for the same period. Despite facing various economic challenges such as high debt levels, double-digit inflation rates, and currency instability post-COVID-19, the IMF remains positive about Ghana’s economic prospects.
This confidence can be attributed to the ongoing IMF program aimed at addressing pressing issues such as rising debt levels, inflationary pressures, currency volatility, and overall economic recovery.

The IMF has observed signs of a strong recovery following Ghana’s participation in the IMF program, with the latest forecast reflecting a 1.6 per cent increase from the IMF’s 2024 projection.

This aligns closely with the government’s year-end target.
However, the IMF anticipates a decline of -2.2 per cent in Ghana’s current account balance, indicating challenges in trade and financial activities in the country.

Despite this, the IMF maintains that the overall outlook for Ghana’s economic growth is set for a significant rebound from next year.

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