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: International Monetary Fund

Volume/Issue: Volume 2008 Issue 344

Publication date: October 2008

ISBN: 9781451815016

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Topics covered in this book

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Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Taxation - General , ISCR , CR , debt , deficit , Ghana , NPV , real GDP , headline inflation , IT framework , burden indicator , concessional financing possibility , reform policy , Inflation , Debt sustainability , Global , West Africa

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Nepal

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Republic of Congo : 2001 Article IV

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.