The International Monetary Fund has forecasted that Ghana will end 2019 as the fastest growing economy in the world. Though the Ghanaian government predicted that the growth rate of the Ghanaian economy would stand at 7 percent, the IMF predicts that it could rise to 8.8 percent.
According to the IMF, Ghana has experienced an amazing macroeconomic growth which has improved significantly over the last two years. the macroeconomic growth was evaluated by the Extended Credit Facility management. The report revealed that due to oil production the economic growth was robust in the beginning three quarters of 2018.
The research department of the IMF put together this report after considering opportunities, threats, the global economy, and economies of the 189 members of the IMF. It used historical data and projections culled from information provided by member countries.
According to the report, six of the ten fastest growing economies are from Africa. By the way, economic powerhouse, China, didn’t make it into the top ten.