News in Ghana

25 March 2020 - Some economists are suggesting that the Ghana government should take drastic economic measures to stimulate the economy amid the COVID-19 (novel Coronavirus) situation. They are backing the government’s decision to approach the International Monetary Fund (IMF) for a Rapid Credit Facility to help fight the COVID-19 pandemic. The IMF is currently evaluating Ghana’s request.

Bank of Ghana is predicting that economic growth will slow down from the projected 6.8% in 2020 to 5.0% in the baseline scenario and 2.5% in the worst-case scenario. According to economist Courage Boti, the Rapid Credit Facility will increase the country’s debt portfolio. However, it is crucial to mitigate the impact of the COVID-19 (novel Coronavirus) outbreak. During this period, there is a need for extra fiscal stimulus to maintain growth against less aggregate demand. Take the Survey about Living and Working during COVID-19