By Francis Ntow, GNA Special Correspondent, Bangkok
Bangkok, Oct. 16, GNA – The International Monetary Fund (IMF) has said Ghana’s economy is expected to sustain growth despite risks from volatile global commodity prices.
The Fund projects growth of 5.7 per cent in 2026, up from its April forecast of 4.6 per cent, supported by strong gold prices, contained inflation and improved fiscal performance.
Mr Zeine Zeidane, Director of the IMF’s African Department, and Mr Montfort Mlachila, Deputy Director, gave the outlook at a press briefing in Bangkok on Thursday in response to a question from the Ghana News Agency.
They said Ghana’s 6.2 per cent growth in the first half of 2026 was likely to be sustained in the second half, although fluctuations in global commodity prices remained a risk.
“The performance has been strong up to now. And recently, there was an upgrade of Ghana. So, things are moving in Ghana in the right direction,” Mr Zeidane said.
He attributed the improved outlook partly to fiscal consolidation, targeted spending and Ghana’s commitment to targets under the Policy Coordination Instrument (PCI). He also cited the country’s recent sovereign credit rating upgrade.
Mr Zeidane said fluctuations in commodity prices could pose risks but Ghana was better positioned to withstand potential shocks.
“Every country can face them, but if that happens, Ghana will face them with a very strong position,” he said.
The IMF projects growth to moderate to 5.2 per cent in 2027, partly because weaker demand could affect Ghana as a net importer.
Mr Mlachila said the economy’s performance remained strong, with inflation within the target band and fiscal conditions improving.
“Growth in Ghana has been fairly strong in the first half of the year. And at the same time, inflation has been within the target band. And the fiscal situation is performing quite well.
“This momentum going forward is likely to be maintained. Part of the reason has been the international commodity prices – especially for gold – which have been quite strong,” he said.
Mr Mlachila said Ghana’s position as a net importer could expose it to weaker demand but expected overall growth to continue.
“Overall, the performance in the economy has been pretty strong, and we expect growth to continue,” he said.
Finance Minister Dr Cassiel Ato Baah Forson reaffirmed the Government’s commitment to fiscal discipline and economic reforms aimed at sustaining growth, boosting productivity and creating jobs.
He expressed confidence that Ghana would exceed the IMF’s 2026 growth forecast.
“The IMF has upgraded Ghana’s 2026 growth forecast from 4.6 per cent to 5.7 per cent. We are confident we will exceed that projection.”
GNA
Edited by Kenneth Sackey
Reporter: Francis Ntow