Ghana Given Loan To Revive Troubled Economy
The International Monetary Fund has agreed a deal to help stabilise the troubled Ghanaian economy.
The deal three-year deal has been agreed to help lessen the blow of the Ghanaian government’s failure in reaching targets in cutting the budget deficit, whilst also improving inflation and growth results.
After an 8% growth in economy the year before last, this growth fell to 4.2% in 2014 as the currency depreciated and commodity prices fell.
The IMF (International Monetary Fund) will be providing Ghana with loan instalments, starting in April. They expect inflation in the country to fall between 11% and 12% by the end of 2015, whilst expecting growth coming in at 3.5%. They expect this to a minimum of 5% by the end of 2017.