Ghana Facing Economic Challenges

A team from the International Monetary Fund, led by Joel Toujas-Bernate, visited Accra from February 6-10, 2017 to take stock of the 2016 economic developments and the outlook for 2017, engage in a dialogue about the new government’s economic plans, and discuss prospects for program engagement with the IMF, Ghananews reported. Toujas-Bernate, at the end of the visit, said: “Ghana’s economy continues to face challenges. While the estimated economic growth of 3.6% in 2016 exceeded our target of 3.3%, the decline in inflation has been slower than expected. The current account deficit narrowed to 6.5% of GDP, contributing to a small buildup of foreign exchange reserves.”