IMF projects Ghana’s economy to grow 2.8% in 2024
The International Monetary Fund projects Ghana’s economy will grow 2.8 per cent this year and 4.4 per cent next year on the back of on-going reforms. Richmond Frimpong, Advisory Board Chair at FLF Africa joins CNBC Africa for more on this projections and ongoing debt restructuring talks with international bondholder groups.
Thu, 18 Apr 2024 14:19:17 GMT
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AI Generated Summary
- Ghana's economy is projected to grow 2.8 per cent this year and 4.4 per cent next year by the IMF, driven by ongoing reforms.
- Challenges related to inflation control and debt restructuring require strategic decisions to overcome.
- Maintaining fiscal discipline, managing debt sustainability, and enhancing transparency are crucial for economic stability and growth.
Ghana's economy is set to grow at a moderate pace in the coming years, with the International Monetary Fund (IMF) projecting a 2.8 per cent growth rate for this year and a 4.4 per cent growth rate for the next year, fueled by ongoing reforms. In a recent interview on CNBC Africa, Richmond Frimpong, Advisory Board Chair at FLF Africa, shared insights on the projections and the current debt restructuring talks with international bondholder groups. Frimpong highlighted the progress Ghana has made in stabilizing its economy and moving towards recovery. He emphasized the importance of implementing key reforms to ensure sustained growth and avoid potential setbacks. The discussion also touched on the challenges related to inflation control and debt restructuring, underscoring the need for strategic decisions in the face of complex economic dynamics. As Ghana navigates through these challenges, maintaining fiscal discipline, managing debt sustainability, and enhancing transparency emerge as critical factors for economic stability and growth.
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