IMF foresees Ghana outperforming the rest of Africa
The IMF forecasts 4,6 percent growth for 2021 and although this is 400 basis points less than the government's own target of 5.0 percent, it clearly outstrips the Fund's projection of 3.4 percent for all of SSA. The Fund expects that gap to expand further in 2022 with Ghana achieving 6.1 percent growth - thus restoring its pre-COVID 19 - while SSA as a whole trundles along at 4.6 percent. While Ghana's end of year inflation for 2020 of 10.5 percent was lower than the average for all of SSA at 11.1 percent, the IMF expects Ghana's inflation rate to be 9.8 percent by the end of this year, above SSA's 8.7 percent; and although it is projected to fall to 7.5 percent by the end of 2022, this would still be marginally higher than the 7.3 percent the Fund expects for SSA. The most worrying aspect of the IMF's forecasts for Ghana is that relating to the public debt.