Ghana’s economy is expected to remain resilient despite a challenging global environment, with the International Monetary Fund (IMF) retaining its growth projection of 4.8 per cent for 2026.

The latest outlook aligns with the Fund’s October 2025 forecast and places Ghana slightly ahead of the projected 4.6 per cent growth for Sub-Saharan Africa.

This comes as global growth expectations have been revised downward to 3.1 per cent, largely due to rising energy costs and ongoing geopolitical tensions.

According to the IMF, Ghana’s positive outlook is underpinned by stronger-than-anticipated performance under its economic reform programme, supported by fiscal discipline and improving macroeconomic conditions.

The projection follows an estimated 6 per cent expansion in 2025, driven mainly by the non-oil sector and agricultural activity.

Inflation has seen a sharp decline, falling to 3.2 per cent as of March 2026. However, the Fund expects it to edge up to 7.9 per cent by the end of the year as price pressures gradually stabilise.

The easing trend has nonetheless created room for the Bank of Ghana to adopt a more cautious approach to monetary policy adjustments.

Despite external risks, including volatility in global commodity prices linked to tensions in the Middle East, Ghana’s economic outlook remains comparatively stable.

The IMF, however, cautioned that rising costs, reduced external support and lingering vulnerabilities could heighten risks to poverty and food security, stressing that sustained growth will depend on continued fiscal discipline and targeted social protection policies.

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IMF keeps Ghana's 2026 growth forecast at 4.8%, ignoring global issues

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