Ghana Will Grow Faster than any other Economy this Year, the IMF Says Why

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Ghana Will Grow Faster than any other Economy this Year, the IMF Says Why
Ghana Will Grow Faster than any other Economy this Year, the IMF Says Why

Just three decades ago, Ghana was in crisis; impoverished and suffering famine, it was on the verge of economic collapse. Fast-forward to the present day, the West African nation has staged a remarkable comeback and is predicted to be the world’s fastest growing economy in 2019.

Long known as one of the world’s largest cocoa producers, Ghana’s growth is now being buoyed by a different commodity: oil. Expanding crude production and rising prices have placed Ghana’s economy at the top of the GDP growth tables. The International Monetary Fund estimates GDP will rise 8.8% this year – double the pace of emerging economies as a whole, and well ahead of world growth.

While Ghana’s prosperity is closely tied to the oil markets, it remains one of the largest exporters of gold in the world, and cocoa is also still a significant product.

CENTER FOR AFRICAN STUDIES

Center for Africa Studies (AFRAM) which located in Ankara, is an organization facilitating under the administration of African Affairs Council (AFAC). It makes various researches about Africa to enhance economic and cultural bounds between Africa and Turkey. AFRAM’s publishings has been shared with different institutions as they require to obtain.

AFRICA OBSERVATORY

Africa Observatory is one the publishing of AFRAM and it has been published each two weeks. It has been delivered to different institutions via e-mail.



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