{"id":175201,"date":"2025-12-04T18:39:14","date_gmt":"2025-12-04T18:39:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/175201\/"},"modified":"2025-12-04T18:39:14","modified_gmt":"2025-12-04T18:39:14","slug":"ghana-delivers-its-strongest-economic-signal-in-years-as-inflation-falls-for-the-11th-time","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/175201\/","title":{"rendered":"Ghana delivers its strongest economic signal in years as inflation falls for the 11th time"},"content":{"rendered":"

\n This progress is especially notable given Ghana’s recent economic challenges.\n <\/p>\n

\n Inflation was a stunning 23.8% in December last year and peaked at 54% in December 2022, owing to currency devaluation, supply chain disruptions, and rising global commodity prices.\n <\/p>\n

\n Today’s single-digit inflation marks a significant reversal for the West African country.\n <\/p>\n

\n The previous update indicated that Ghana’s inflation decreased from 9.4% in September to 8% in October, further establishing a single-digit figure.\n <\/p>\n

\n As seen on Reuters<\/a>, Alhassan Iddrisu, a government statistician, attributed the new drop primarily to a significant reduction in food inflation, which has been a key contributor to the country’s inflationary pressures in recent years.\n <\/p>\n

\n “Domestic price conditions and external market conditions are both stabilising,” the statistician stated.\n <\/p>\n

\n He went on to reveal that the country\u2019s current inflation rate is the lowest since 2021.\n <\/p>\n

Ghana\u2019s interest rate <\/p>\n

\n Last week, sources suggested that, with inflation expected to continue its downward path, the Bank of Ghana lowered interest rates.\n <\/p>\n

\"Bank <\/p>\n

\n On November 26th, Governor Johnson Asiama said that the majority of the Monetary Policy Committee had decided to decrease the benchmark interest rate to 18%, a 350 basis point drop<\/a>.\n <\/p>\n

\n This is one of the biggest rate decreases in recent years, reflecting confidence in the country’s macroeconomic recovery’s long-term viability.\n <\/p>\n

Ghana\u2019s debt recovery <\/p>\n

\n Beyond inflation and currency gains, Ghana is making progress in its debt restructuring efforts.\n <\/p>\n

\n Earlier in November, the administration stated that it intends to leave its continuing loan arrangement with the International Monetary Fund (IMF) on terms that reflect progress<\/a> rather than crisis-driven concessions.\n <\/p>\n

\n According to Finance Minister Cassiel Ato Forson, Ghana is currently compliant with the IMF’s fiscal responsibility guidelines.\n <\/p>\n

\n Projections from the ministry show that Ghana might attain a primary budget surplus of 1.5% of GDP by 2026, a significant milestone for a country that has struggled with severe fiscal deficits in previous years.\n <\/p>\n

\n As Ghana nears the end of its three-year IMF bailout program, government officials have committed to maintaining rigorous budgetary discipline to ensure the recovery.\n <\/p>\n

\n Ghana’s economic tale has turned from one of hardship to one of resilience and recovery, as inflation has fallen, the currency has strengthened, and debt restructuring is moving forward.\n <\/p>\n","protected":false},"excerpt":{"rendered":"This progress is especially notable given Ghana’s recent economic challenges. Inflation was a stunning 23.8% in December last…\n","protected":false},"author":2,"featured_media":175202,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-175201","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/175201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=175201"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/175201\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/175202"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=175201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=175201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=175201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}