Ghana’s Economy to Expand by 4% in 2025, Rebound to 4.8% in 2026 – IMF Regional Economic Outlook Report
Ghana’s economy is projected to grow by 4.0% in 2025, missing the government’s target of 4.4%, the International Monetary Fund (IMF) has said in its latest Regional Economic Outlook for Sub-Saharan Africa.
The Fund forecasts a modest recovery for the Ghanaian economy in 2026, with growth expected to pick up to 4.8%, reflecting ongoing efforts by the government to stabilise the macroeconomic environment and restore investor confidence.
Across Sub-Saharan Africa, economic growth is anticipated to slow to 3.8% in 2025, down from 4.0% in 2024, before rebounding slightly to 4.2% in 2026. The IMF attributes the regional slowdown to a mix of persistent global trade tensions, tighter financial conditions, and reduced access to external financing.
“Softer commodity prices, weaker external demand, and diminished access to financing—especially for commodity-dependent economies—continue to weigh on growth prospects in the region,” the report noted.
The Fund further warned that elevated global uncertainty, including the risk of further trade disruptions and additional monetary tightening in advanced economies, could further dampen investor sentiment and increase borrowing costs.
For Ghana, the IMF’s projections highlight the ongoing economic challenges policymakers must navigate, as the country continues to recover from the effects of successive external shocks, including the COVID-19 pandemic and the Russia-Ukraine war, as well as domestic fiscal imbalances.
The projections come at a time when Ghana is implementing a $3 billion Extended Credit Facility (ECF) programme with the IMF aimed at restoring macroeconomic stability, ensuring debt sustainability, and laying the foundation for inclusive growth.
