IMF Staff Country Reports

Ghana : 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Ghana

Author/Editor:

International Monetary Fund

Publication Date:

October 20, 2008

Electronic Access:

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Summary:

This 2008 Article IV Consultation highlights that Ghana’s growth has remained strong, fuelled by both the private and public sectors. The Ghanaian economy maintained strong growth of about 6½ percent in 2007 and the first months of 2008. The private sector has responded positively to macroeconomic stability, structural reforms, and an increasingly business-friendly environment. But fiscal spending also increased, leading to excess demand. Supply-side shocks, especially from international fuel prices, have impacted Ghana negatively, although overall, Ghana’s terms of trade continued to improve.

Series:

Country Report No. 08/344

Subject:

Article IV consultations Budget deficits Credit expansion Debt sustainability analysis Exchange rate policy Financial stability Inflation Millennium Development Goals Oil Private sector Public debt Public information Public sector Reserves Risk management Staff Reports