Ghana

Ghana's Economic Growth: Rapid GDP Surge Amid Global Challenges

2 months ago

Amid global economic difficulties and instability, Ghana is showcasing impressive growth in its gross domestic product (GDP). According to the latest data, the country's economy grew by 5.3% in the second quarter of 2024, marking the most significant growth rate in the past five years. This figure surpasses previous economists' forecasts, which anticipated economic growth at around 3.8%.

Surprising Inflation Slowdown in Ghana Raises Chances of Rate Cut

3 months ago

In recent months, Ghana has seen a significant slowdown in inflation rates, potentially creating favorable conditions for a further decrease in interest rates. Recent data revealed that inflation in the country unexpectedly dropped to 10% in August, down from 12.1% in July. This turn of events raises hopes that the Bank of Ghana might consider lowering its key interest rate at the next meeting.

Debt Harmony: Ghana Bondholders Back $13 Billion Restructuring Offer

3 months ago

Ghana's bondholders have agreed to the government’s debt restructuring proposal totaling $13 billion. This decision marks a significant step forward in the government's efforts to stabilize the economy and improve the country’s financial situation.

Improved Outlook for Cocoa Prices: Caution for Ivory Coast and Ghana

3 months ago

Recent market analysis indicates that cocoa prices are on the rise, providing hope for producers, particularly in Ivory Coast and Ghana, which are the world's largest cocoa suppliers. However, experts warn that this positive trend could be jeopardized by several factors, including climate change and instability in global markets.