The International Monetary Fund (IMF) has projected a robust growth rate of 4.4% for Ghana in 2025, indicating a substantial increase from the 2.8% growth projected for 2024. This optimistic forecast was unveiled during the IMF’s latest April World Economic Outlook at the ongoing spring meetings in Washington DC.
This projection reflects the growing optimism surrounding Ghana’s economic trajectory and positions the country ahead of some major economies in Africa in terms of growth rate for 2025. It surpasses the World Bank’s projection of 3.3 percent for the same period.
Despite facing various economic challenges, including high debt levels, double-digit inflation rates, and currency instability post-COVID-19, Ghana’s economic prospects remain promising according to the IMF. This confidence can be attributed to the ongoing IMF program aimed at addressing pressing issues such as rising debt levels, inflationary pressures, currency volatility, and overall economic recovery.
The IMF has observed signs of a strong recovery following Ghana’s participation in the IMF program, with the latest forecast reflecting a 1.6 percent increase from the IMF’s 2024 projection. This aligns closely with the government’s own year-end target.
However, the IMF anticipates a decline of -2.2 percent in Ghana’s current account balance, indicating challenges in trade and financial activities in the country. Despite this, the IMF maintains that the overall outlook for Ghana’s economic growth is set for a significant rebound from next year.
