Prime News Ghana

IMF projects 4.4% growth rate for Ghana in 2025

By primenewsghana
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The International Monetary Fund (IMF) is forecasting a 4.4% growth for Ghana in 2025 from the 2.8% growth projection in 2024 and 2.3% in 2023.

The IMF announced this in its latest April World Economic Outlook released on the sidelines of the ongoing 2025 spring meetings in Washington DC.

It underscores the growing optimism about Ghana’s positive economic trajectory.

This latest projection by the International Monetary Fund (IMF) positions Ghana ahead of some major economies in Africa in terms of growth rate for 2025.

The forecast surpasses the World Bank’s projection of 3.3 percent for the same period.

Ghana’s economic prospects remain promising according to the IMF despite facing various economic challenges, including high debt levels, double-digit inflation rates, and currency volatility post-COVID-19.

The IMF’s confidence in Ghana’s economy can be attributed to the ongoing IMF program, which aims to address several pressing issues to overall economic recovery.

The Fund has noted signs of a strong recovery following Ghana’s participation in the IMF program.

The latest forecast reflects a 1.6 percent increase from the IMF’s 2024 projection of 2.8 percent for Ghana, aligning 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, which measures 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.