The International Monetary Fund (IMF) has announced a substantial growth projection of 4.4% for Ghana in 2025, a notable increase from the 2.8% growth anticipated for 2024.
This optimistic forecast was revealed during the IMF’s April World Economic Outlook at the ongoing spring meetings in Washington DC, highlighting increasing confidence in Ghana’s economic prospects.
The IMF’s projection positions Ghana ahead of several major African economies in terms of growth rate for 2025, surpassing the World Bank’s forecast of 3.3%.
Despite facing challenges such as high debt levels, double-digit inflation rates, and currency volatility post-COVID-19, the IMF remains positive about Ghana’s economic trajectory.
The IMF’s confidence is bolstered by Ghana’s participation in an ongoing IMF program aimed at addressing key economic issues for overall recovery.
Signs of a strong economic recovery following Ghana’s engagement in the IMF program have been noted, contributing to the IMF’s revised growth forecast.
While the IMF anticipates a -2.2% decline in Ghana’s current account balance, reflecting trade and financial activities, it maintains an overall positive outlook for Ghana’s economic growth, expecting a significant rebound from next year.
Source-citinewsroom
