Ghana: 2017 Article IV Consultation, Fourth Review Under the Extended Credit Facility Arrangement, Request for Waiver for Nonobservance of Performance Criteria, and Request for Extension and Rephasing of the Arrangement-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Ghana
IMF Staff Country Reports, September 6, 2017
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- Ghana: 2017 Article IV Consultation, Fourth Review Under the Extended Credit Facility Arrangement, Request for Waiver for Nonobservance of Performance Criteria, and Request for Extension and Rephasing of the Arrangement-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Ghana
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Bibliographic details
- Published: September 6, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484317259.002
Summary of macroeconomic performance
- Ghana has shown mixed macroeconomic performance in recent years, with significant shocks being amplified by policy slippages and resulting external and domestic imbalances.
- Growth in 2016 was 3.5 percent, the lowest level in two decades.
- Inflation has continued to decline and the exchange rate has been broadly stable.
- The external position has continued to improve, supported by strong foreign investors’ participation in the domestic debt market.
Projections and near-term outlook
- A recovery of growth is expected in 2017–18, owing to an increase in oil production, declining inflation, and lower imbalances with the right policy implementation.
- Over the medium term, both the fiscal deficit and the current account deficit are projected to decline gradually.
Policy themes and areas of focus (as identified in the report)
- Banking
- Budget planning and preparation
- Expenditure
- External debt
- Fiscal consolidation
- Public debt
- Public financial management (PFM)
- Revenue administration
Content in this bundle
- Country Report