Kristalina Georgieva
The International Monetary Fund (IMF) has projected a 4 percent growth rate for Ghana by the end of 2025.
This revised forecast was captured in the IMF’s April 2025 Regional Economic Outlook Report, released on the sidelines of the IMF/World Bank Spring Meetings in Washington, D.C.
The projected 4 percent growth aligns with the figure presented in the 2025 Budget by the Finance Minister, Dr. Ato Forson, in March.
Looking ahead, the Fund expects Ghana’s economy to grow by 4.8 percent in 2026.
The IMF is also projecting an end-of-year inflation rate of 17.5 percent for 2025, significantly higher than the government’s target of 11.9 percent as stated in the national budget.
This suggests that the government could miss its inflation target for the year.
However, the IMF remains optimistic, forecasting a sharp decline in inflation to 9.4 percent by the end of 2026, bringing Ghana closer to its long-sought single-digit inflation goal.
Ghana’s total public debt stood at GH¢ 726.7 billion at the end of December 2024, representing 61.8 percent of GDP.
According to the IMF’s Regional Economic Outlook, the debt-to-GDP ratio is expected to rise to 66.4 percent by the end of 2025 before declining to 62.7 percent in 2026.
The IMF programme targets a further reduction to 55 percent by the end of 2028.
The head of the IMF Mission to Ghana, Stéphane Roudet said he was optimistic Ghana would meet all key benchmarks, including the 2028 debt target, provided the country remains committed to programme conditions.
The IMF also projects Ghana’s import cover to reach 3.6 months by the end of 2025 and maintain the same level in 2026.
Additionally, the report revealed that exports to the United States account for about 1 percent of Ghana’s total GDP.
A Business Desk Report