Ghana’s 3% economic growth an indication of a resilient economy – IMF Mission Chief

• Posted on October 10, 2023October 10, 2023
• by Nana Kwesi Coomson
• Comment

Stéphane Roudet, the International Monetary Fund’s (IMF) Mission Chief for Ghana, has lauded Ghana’s economic growth.

In an interview on The Point of View on Citi TV, Mr. Roudet intimated that Ghana’s quick economic recovery is surprising and also encouraging, as the country has outperformed the IMF’s projection for the year 2023.

He indicated that the IMF had projected Ghana’s economy to grow at a rate of 1.5 percent by the year ending 2023, but the first-half report shows that the country’s economy is growing at a rate of 3 percent, which he said is very encouraging and will go a long way to ensuring the smooth disbursement of the second tranche of the $3 billion credit facility from the Fund.

“Ghana’s economic activities I have to say, have surprised us on the outside. You will remember that in the programme, we were projecting economic growth of 1.5 percent for this year, and now we have the outcome for the first half of the year, and we are about 3 percent and so you can see that there are signs that are encouraging.”

“We were assessing that growth will be above 1.5 percent for this year and what we are seeing now is above that, so we will have to revise our growth projection in the context of this review and this is very good news because it means that in spite of the challenges that the Ghanaian economy has faced; the high inflation, the loss of market access for the government, in spite of that, the economy is resilient and growth is still around 3 percent and that very good news. “

-Citi