IMF has reportedly agreed to grant Ghana a loan of about $940 million.
Ghana had about 9 % growth rate in 2011; since then receding resource prices, a ballooning 17 % inflation , unemployment, ghost employment, wage bill inflation, corrupt practices, and large fiscal deficits rooted in subsidies have all contributed to a stalled economy.
As a lead frontier emerging economy, Ghana has prospects.However, the nation has a lot of determined and value driven effort to do if it has to get back to growth. It could work as an educational hub of West Africa, a technological park across the Atlantic and as a medical hub.
The Cedi might just about hold for sometime unless IMF is able to inspire a good rebound.
Views expressed without any risk or responsibility
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