<\/p>\n
Kojo Oppong Nkrumah<\/strong><\/p>\n \u00a0<\/p>\n Minister of Information, Kojo Oppong Nkrumah, has expressed worry about recent forecasts by the International Monetary Fund (IMF) of a worldwide slowdown, tighter global financial conditions, and a dramatic pickup in global inflation.<\/p>\n Already, the global financial conditions have spilled into countries in Africa, particularly Ghana, which have already been wearied by an ongoing series of shocks.<\/p>\n The minister, in a tweet, said \u201cthe forecasts about the global and African economies 2023 are very worrying,\u201d and urged the country\u2019s financial experts to interrogate these forecasts and their causes.<\/p>\n \u201cI encourage my colleagues in economic discourse to interrogate these forecasts and their causes. Additionally, we should examine the adequacy of responses by governments and the proposed alternatives,\u201d he added.<\/p>\n The IMF has said sub-Saharan Africa\u2019s recovery has been abruptly interrupted after activity bounced back last year, lifting GDP growth in 2021 to 4.7 percent.<\/p>\n The influential financial institution stated that growth\u00a0in 2022\u00a0is expected to slow sharply by more than 1 percentage point to 3.6 percent.<\/p>\n Already, rising food and energy prices are impacting the region\u2019s most vulnerable, and public debt and inflation are at levels not seen in decades, the IMF had indicated.<\/p>\n As a result, and with limited options, many countries find themselves pushed closer to the edge, it said.<\/p>\n It added that the near-term outlook is extremely uncertain\u00a0as the region\u2019s prospects\u00a0are\u00a0tied to developments in the global economy and with\u00a0a number of\u00a0countries facing\u00a0difficult sociopolitical and security situations at home.<\/p>\n The fund had demanded that within this challenging environment, policymakers confront immediate socioeconomic crises\u00a0as they arise, while also endeavouring to reduce vulnerabilities to future shocks, building resilience.<\/p>\n \u201cUltimately,\u00a0however,\u00a0the region\u2019s safety and prosperity will require high-quality growth\u00a0and the implementation of\u00a0policies\u00a0that will set the stage for a sustainable recovery,\u00a0helping countries\u00a0move\u00a0away from the edge,\u201d it intimated.<\/p>\n By Ernest Kofi Adu<\/strong><\/p>\n \n\t<\/div>\n","protected":false},"excerpt":{"rendered":" Kojo Oppong Nkrumah \u00a0 Minister of Information, Kojo Oppong Nkrumah, has expressed worry about recent forecasts by the International Monetary Fund (IMF) of a worldwide slowdown, tighter global financial conditions, and a dramatic pickup in global inflation. Already, the global financial conditions have spilled into countries in Africa, particularly Ghana, which have already been wearied […]<\/p>\n","protected":false},"author":1,"featured_media":1121742,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[3010,6183,3074,5359,6421,3108],"class_list":["post-1228501","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-economic","tag-forecasts","tag-imf","tag-nkrumah","tag-oppong","tag-worrying"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1228501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1228501"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1228501\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1228501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1228501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1228501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}