IMF confident in Ghana’s Economic recovery and growth outlook

The International Monetary Fund (IMF) has expressed renewed confidence in Ghana’s economic outlook, suggesting that recent gains could be sustained beyond the country’s current programme period.

The Fund’s upbeat assessment reflects what it describes as a steady recovery from the 2022–2023 economic crisis, driven by fiscal consolidation and ongoing reforms in revenue mobilisation, state-owned enterprises, and the energy sector.

Speaking at the IMF’s Regional Economic Outlook press conference for Sub-Saharan Africa, Director of the African Department, Abebe Aemro Selassie, said Ghana’s recent performance shows clear signs of progress.

“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,” he stated.

He added that the IMF remains optimistic about Ghana’s economic prospects, describing the country’s potential as significant.

“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.

However, he cautioned that sustaining the recovery will require continued fiscal discipline and careful policy management.

“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 sustainability challenges,” he added.