IMF revises Ghana’s growth target to 4% for 2024

The IMF has raised Ghana's 2024 growth forecast to 4% from an initial 3%, citing recent positive developments overlooked in April data.

This update, disclosed by IMF Africa Director Abebe Selassie at the IMF/World Bank meetings, aligns with the World Bank's recent 4% projection, attributed to increased economic activity in Ghana’s last two quarters.

Mr. Selassie attributed the improved outlook to Ghana's reforms but cautioned about fiscal risks, particularly spending overruns in the election year. He emphasized the need for fiscal prudence and debt sustainability to maintain a healthy economy.