The International Monetary Fund (IMF) says Ghana’s economy will grow by 4.4% in 2025. That’s a big jump from the 2.8% growth expected in 2024. The IMF announced this during a meeting in Washington DC. It shows that people are feeling hopeful about Ghana’s economy.
This is a good sign for Ghana because it means the country’s economy is getting better. The IMF thinks Ghana will grow faster than some other big African countries in 2025. They think Ghana will do better than the World Bank’s estimate of 3.3% growth for the same time.
Even though Ghana has some money problems and high prices because of COVID-19, the IMF still thinks Ghana’s future looks bright. This is because of a plan they made with Ghana to help fix the economy.
The IMF believes Ghana’s economy is getting stronger because of the plan they made together. They think Ghana’s economy will be 1.6% better in 2025 than they thought before. This is close to what the government thinks will happen too.
But the IMF also thinks Ghana might not make as much money from trade and other things as they used to. This is called the current account balance. But overall, the IMF thinks Ghana’s economy will get much better next year.
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Ghana’s economy is expected to grow by 4.4% in 2025, according to the International Monetary Fund (IMF). This projection represents a significant increase from the 2.8% growth projected for 2024. The IMF made this announcement during its April World Economic Outlook at the ongoing spring meetings in Washington DC, highlighting the growing optimism about Ghana’s positive economic trajectory.
The IMF’s forecast positions Ghana ahead of some major economies in Africa in terms of growth rate for 2025, surpassing the World Bank’s projection of 3.3 percent for the same period. Despite facing various economic challenges post-COVID-19, including high debt levels, double-digit inflation rates, and currency volatility, Ghana’s economic prospects remain promising according to the IMF.
This confidence in Ghana’s economy can be attributed to the ongoing IMF program aimed at addressing several pressing issues for overall economic recovery. Signs of a strong recovery have been noted following Ghana’s participation in the IMF program.
The latest forecast reflects a 1.6 percent increase from the IMF’s 2024 projection of 2.8 percent for Ghana, aligning closely with the government’s own year-end target. However, the IMF anticipates a decline of -2.2 percent in Ghana’s current account balance, which measures 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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