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The International Monetary Fund (IMF) has described Ghana’s current economic growth rate as a strong signal of recovery, indicating that the country’s economy is expanding beyond its estimated potential. Speaking on with Bernard Avle on Monday, November 3, the IMF Resident Representative to Ghana, Dr. Adrian Alter, revealed that the Fund’s assessment puts Ghana’s potential growth at about 5 percent in real terms. “So the team has estimated potential growth for Ghana at about 5% in real terms. Now, the fact that we are now above potential at 6%, it’s basically a good signal,” Dr. Alter said. He explained that the higher-than-expected growth reflects a strong rebound from previous economic underperformance and signals renewed investor and business confidence. “It means that the economy is recovering strongly from the past underperformance. And with this rebound, you would expect more jobs to come into the economy,” he stated. Dr. Alter added that sustained macroeconomic stability would attract more investment, further boosting employment and revenue generation. “And with the stability of the macro stability, you would expect more investments to flood the economy. So hopefully that will generate more jobs, more revenue,” he noted. Ghana’s economic growth has accelerated in recent quarters, driven by easing inflation, improved fiscal discipline, and stability in the exchange rate under the IMF-supported recovery programme. Explore the world of impactful news with CitiNewsroom on WhatsApp! Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU:https://whatsapp.com/channel/0029VaCYzPRAYlUPudDDe53x No spam, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital
