{"id":263808,"date":"2024-12-11T11:43:21","date_gmt":"2024-12-11T11:43:21","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/11\/ghanas-gdp-growth-rate-hits-a-6-year-high\/"},"modified":"2024-12-11T11:43:21","modified_gmt":"2024-12-11T11:43:21","slug":"ghanas-gdp-growth-rate-hits-a-6-year-high","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/11\/ghanas-gdp-growth-rate-hits-a-6-year-high\/","title":{"rendered":"Ghana&#8217;s GDP growth rate hits a 6-year-high"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        The West African country of Ghana, which just elected a new president in the hopes of changing the country\u2019s economic misfortunes, had in the third quarter of 2024, recorded growth in its economy.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        A recent report revealed that the country\u2019s Gross Domestic Product grew 7.2% in the three months leading up to September, compared to the same period, the year prior.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        This information was disclosed to reporters in the country\u2019s capital, Accra, during a press briefing on Wednesday, by Government Statistician Samuel Kobina.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        He stated that the GDP growth was the strongest rate of year-on-year increase since 7.9% was recorded in the fourth quarter of 2019, which is significantly higher than the median of three experts&#8217; predictions in a Bloomberg survey for a 5.4% expansion.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        The data follows former President John Mahama&#8217;s election triumph earlier this week, as voters rejected the current administration amid discontent over a cost-of-living issue in the West African nation.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-image \">\n<p>    <!-- image: supported --><\/p>\n<div class=\"imageBlock  aligment-center\">\n<div>\n<p>                <span class=\"image-holder\" data-fancybox=\"images-d61e6622-5b81-4cfc-af50-3584c11f9f40\" data-caption=\"John Dramani Mahama\"><\/p>\n<picture style=\"--noscript-src: url(https:\/\/ocdn.eu\/pulscms-transforms\/1\/wkPktkqTURBXy82ZGYzYTY1ZWVmYzNlNmQxNDg1YmViODk4Y2M3YzQ5OS5qcGVnkZUCzQLwzQGXwsM); \" class=\"image-wrapper\"><source data-original=\"https:\/\/ocdn.eu\/pulscms-transforms\/1\/vIjk9kqTURBXy82ZGYzYTY1ZWVmYzNlNmQxNDg1YmViODk4Y2M3YzQ5OS5qcGVnkZUCzQLwzQGXwsPeAAKhMAahMQA\" srcset=\"https:\/\/ocdn.eu\/pulscms-transforms\/1\/vIjk9kqTURBXy82ZGYzYTY1ZWVmYzNlNmQxNDg1YmViODk4Y2M3YzQ5OS5qcGVnkZUCzQLwzQGXwsPeAAKhMAahMQA\" type=\"image\/avif\"><source data-original=\"https:\/\/ocdn.eu\/pulscms-transforms\/1\/PXzk9kqTURBXy82ZGYzYTY1ZWVmYzNlNmQxNDg1YmViODk4Y2M3YzQ5OS5qcGVnkZUCzQLwzQGXwsPeAAKhMAWhMQA\" srcset=\"https:\/\/ocdn.eu\/pulscms-transforms\/1\/PXzk9kqTURBXy82ZGYzYTY1ZWVmYzNlNmQxNDg1YmViODk4Y2M3YzQ5OS5qcGVnkZUCzQLwzQGXwsPeAAKhMAWhMQA\" type=\"image\/webp\"><img width=\"752\" height=\"407\" alt=\"John Dramani Mahama\" title=\"John Dramani Mahama\" class=\"image lazyloaded imgWithMetaData\" src=\"https:\/\/ocdn.eu\/pulscms-transforms\/1\/wkPktkqTURBXy82ZGYzYTY1ZWVmYzNlNmQxNDg1YmViODk4Y2M3YzQ5OS5qcGVnkZUCzQLwzQGXwsM\" fetchpriority=\"low\" decoding=\"async\" loading=\"lazy\"\/><\/source><\/source><\/picture>\n                <\/span><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        Ghana is coming off a lengthy debt restructuring and is in the second year of an International Monetary Fund program that includes tough austerity measures. Bloomberg reports.\n    <\/p>\n<\/p><\/div>\n<p>    <!-- heading: supported --><\/p>\n<h3 class=\"heading-h3 replaced-h1\" id=\"nav-ring-9\">\n        IMF loan to Ghana<br \/>\n    <\/h3>\n<\/p>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        On May 17, the executive board of the International Monetary Fund authorized a $3 billion, three-year loan plan for Ghana.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        This made it possible to pay out around $600 million right away and may have provided a way out of the greatest economic crisis the nation has seen in a generation.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        Ghana announced shortly afterward its ambitious intention to pay off $10 billion of its total external debt by 2026.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        This $600 million prompt payment comes after Ghana&#8217;s pursuit of a $3 billion IMF loan it had been trying to secture since 2022.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        For some time, the IMF was reluctant to provide the loan due to their skepticism of Ghana&#8217;s capacity to restructure its debt.\n    <\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The West African country of Ghana, which just elected a new president in the hopes of changing the country\u2019s economic misfortunes, had in the third quarter of 2024, recorded growth in its economy. A recent report revealed that the country\u2019s Gross Domestic Product grew 7.2% in the three months leading up to September, compared to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":263809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-263808","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ghana&#039;s GDP growth rate hits a 6-year-high - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/12\/11\/ghanas-gdp-growth-rate-hits-a-6-year-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana&#039;s GDP growth rate hits a 6-year-high - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The West African country of Ghana, which just elected a new president in the hopes of changing the country\u2019s economic misfortunes, had in the third quarter of 2024, recorded growth in its economy. 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