The International Monetary Fund (IMF) has announced a projected end-year single-digit inflation rate of 8% for Ghana in 2025, aligning with the government’s target for the same period.
The government aims to ease the end-year inflation from 23% to 15% in 2024 and further reduce it to a single digit in 2025.
The IMF’s projection reflects confidence in Ghana’s economic trajectory, attributing the positive outlook to robust measures and gains achieved under the IMF program.
The Bank of Ghana has committed to staying within its end-year target band of 15% plus or minus two percent for 2024, with plans to continue the disinflation process and manage underlying inflation risks through tight monetary policy.
Additionally, the IMF anticipates a significant growth rebound for Ghana, projecting a robust 4.4% growth in 2025, a substantial increase from the 2.8% growth expected in 2024.
However, there is a forecasted decline of -2.2% in Ghana’s current account balance, reflecting challenges in trade and financial activities.
Despite the current account balance decline, the IMF remains optimistic about Ghana’s economic growth, anticipating a significant rebound from the following year.
Source-citinewsroom
