The International Monetary Fund (IMF) has delivered positive news for Ghana, projecting a robust growth of 4.4% for the country in 2025.
This marks a significant increase from the 2.8% growth forecasted for 2024. The IMF made this announcement during its latest April World Economic Outlook at the ongoing spring meetings in Washington DC, highlighting the growing optimism surrounding Ghana’s economic trajectory.
This latest projection places 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 challenges such as high debt levels, double-digit inflation rates, and currency volatility post-COVID-19, Ghana’s economic prospects remain promising according to the IMF.
The IMF’s confidence in Ghana’s economy can be attributed to the ongoing IMF program, which aims to address various pressing issues for overall economic recovery. The Fund has observed signs of a strong recovery following Ghana’s participation in the program. The 4.4% growth forecast for 2025 reflects a significant increase from the IMF’s 2024 projection of 2.8%, aligning closely with the government’s own year-end target.
However, the IMF anticipates a -2.2% decline 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 poised for a significant rebound from next year.
The forecasted growth rate of 4.4% showcases the potential for Ghana’s economy to continue on a positive trajectory, positioning the country as a rising star in Africa’s economic landscape.
