Browsing: Ghana economy
Dr Richmond Atuahene indicated that the Cedi’s performance should be seen as the outcome of a balanced blend of prudent policies and economic activity trends.
The cedi’s rebound has injected optimism into Ghana’s economy, easing inflation to 21.2% in April and revitalizing business confidence.
Fitch Solutions, last week, reaffirmed its projection that Ghana’s Gross Domestic Product, a measure of Ghana’s total economic output, will grow by 4.2% in 2025.
The president’s resolve follows a declaration he made last week that, government will not extend the ongoing Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF) when it ends in April next year.
The impending Virtual Assets Service Providers (VASP) Act will grant the BoG authority to license and supervise cryptocurrency exchanges, wallet providers, and other virtual asset services.
the World Bank remains cautiously optimistic about Ghana’s prospects, projecting a rebound to 4.6% growth in 2026 and 4.8% in 2027 rating Ghana among a few African economies showing early signs of recovery from 2025.
Ghana’s pivotal change of government from the erstwhile profligate Nana Akufo-Addo administration to the much more fiscally restrained incumbent President John Dramani Mahama administration, coupled with favourable developments in the country’s key international commodity export markets have changed the exchange rate trajectory sharply.
the Ministry of Finance has unveiled a series of ambitious structural reforms aimed at restoring fiscal discipline, increasing transparency, and reinforcing debt sustainability, as part of Ghana’s ongoing IMF-supported recovery programme.
To this, an economist and lecturer at University of Ghana Business School believes Ghana is likely to obtain waivers on some of its performance targets, suggesting that the IMF will likely accommodate some of the missed targets as the President Mahama administration is new.
Latest to add its voice is the Institute for Fiscal Studies (IFS) cautioning the government to set realistic budgetary targets to ensure fiscal credibility.