IMF expresses confidence in Ghana’s economic rebound

The International Monetary Fund is striking a more confident tone on Ghana’s economic outlook, signalling that recent gains could extend beyond the country’s ongoing programme.

The shift reflects what the Fund views as a steady turnaround from the 2022–2023 crisis, supported by fiscal consolidation and reforms across revenue mobilisation, state-owned enterprises, and the energy sector.

Speaking during the IMF’s Regional Economic Outlook press conference for Sub-Saharan Africa, Director of the African Department, Abebe Aemro Selassie, said: “A couple of years after the difficult crisis that the government had, with the people of Ghana of course, had gone through in 22-23… that continued performance is really good and it’s on the back of continuing to implement the reforms… clearing the path for recovery that we are seeing.”

The IMF remains upbeat on Ghana’s prospects. “We are very optimistic about Ghana… the potential there of course is tremendous and we’re very hopeful that the economy will continue to grow from strength to strength, “he said.

He stressed, however, that sustaining the momentum will require discipline going forward. “Growth-wise, we hope that this can be sustained and really for Ghana… it’s really about how to make sure that… the fiscal balance remains contained and there is a continued balance between addressing development needs and avoiding the sustainability challenges.”

Source: citinewsroom