Ghana: 2005 Article IV Consultation, Third Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Nonobservance of Performance Criteria and Extension of the Arrangement

August 15, 2005

Preview Citation

Format: Chicago

Ghana: 2005 Article IV Consultation, Third Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Nonobservance of Performance Criteria and Extension of the Arrangement, (USA: International Monetary Fund, 2005) accessed December 22, 2024

Summary

This 2005 Article IV Consultation highlights that economic performance in Ghana has improved since 2000, with the economy growing at its fastest pace in more than a decade. In 2004, real GDP growth reached 5.8 percent, driven by agriculture and a strong pickup in the services and construction sectors—helped by increased bank credit and private inward remittances. Ghana’s medium-term prospects appear promising, with growth projected to continue at the current relatively high rate, provided that macroeconomic stability becomes further entrenched with fiscal sustainability, inflation declines further, and the government perseveres with structural reform.

Subject: Banking, Capital spending, Expenditure, External debt, Oil prices, Prices, Public debt

Keywords: Capital spending, CR, Global, ISCR, Oil prices, Petroleum products, PRGF arrangement, Pricing mechanism, Reform, Staff appraisal, Sub-Saharan Africa, West Africa, World oil price

Publication Details

Pages:

104
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/292
Stock No:

1GHAEA2005002
ISBN:

9781451814927
ISSN:

1934-7685

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