International Monetary Fund (IMF) has projected robust growth of 4.4% for Ghana in 2025, marking a significant increase from the 2.8% growth projected for 2024.
This announcement was made during the IMF’s latest April World Economic Outlook at the ongoing spring meetings in Washington DC, highlighting growing optimism about Ghana’s economic trajectory.
The IMF’s projection positions Ghana ahead of some major African economies 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 is attributed to the ongoing IMF program aimed at addressing 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, closely aligning with the government’s year-end target.
However, the IMF anticipates a decline of -2.2 percent in Ghana’s current account balance.
Despite this, the IMF maintains that the overall outlook for Ghana’s economic growth is set for a significant rebound from next year.