Ghana: 2013 Article IV Consultation

International Monetary Fund

No 2013/187, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2013 Article IV Consultation highlights that economic growth in Ghana continued at a robust pace of 8 percent in 2012 amid rising fiscal and external imbalances. Fiscal pressures came to the fore in a mounting public sector wage bill and costly energy subsidies that pushed the deficit close to 12 percent of GDP. The growth momentum continues into 2013, with increased oil production projected to keep overall GDP growth close to 8 percent. Non-oil growth is likely to decelerate, however, as a result of energy disruptions and high real interest rates.

Keywords: ISCR; CR; deficit; debt; GDP; debt ratio; inflation expectation; sustainability analysis; fiscal policy implementation; exchange rate; creating flow; Inflation; Current account deficits; Credit; Central bank policy rate; Sub-Saharan Africa; West Africa (search for similar items in EconPapers)
Pages: 113
Date: 2013-06-27
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