The International Monetary Fund (IMF) projects Ghana to achieve single-digit inflation of 8% by the end of 2025, aligning with the government’s target. This projection reflects a positive trajectory compared to previous years.
Ghana’s government aims to ease the end-year inflation target from 23% to 15% in 2024, with further reduction to a single digit by 2025. The country last achieved a single-digit inflation rate in 2021, at 9.97%, before facing challenges that led to a record-high of 54.1% in subsequent years.
The IMF’s optimistic forecast is attributed to robust measures and progress made under the IMF programme. The Bank of Ghana remains committed to its end-year target band of 15% plus or minus two percent for 2024, anticipating continued disinflation with tight monetary policy.
In addition to inflation, the IMF projects a significant growth of 4.4% for Ghana in 2025, surpassing the 2.8% growth estimated for 2024. However, there is an anticipated decline of -2.2% in Ghana’s current account balance, reflecting challenges in trade and financial activities.
Despite this, the IMF maintains a positive outlook for Ghana’s economic growth, forecasting a notable rebound from the following year.
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