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Ghana is expected to become the fastest growing-economy in sub-Saharan Africa with a GDP growth rate of 8.8% in 2019, according to the International Monetary Fund's (IMF) just-released 2019 GDP growth projections.
According to the IMF Ghana's macroeconomic performance has grown significantly in the last two years under the Extended Credit Facility arrangement.
The latest report also suggests growth in the first three quarters of 2018, on the back of oil production.
Inflation has continued to decline, to 9% in January 2019, within the Bank of Ghana's band around the inflation target.
The fiscal position (excluding financial sector-related costs) has continued to improve in 2018, despite persistent revenue collection challenges; and the current account deficit was less than anticipated, "The IMF noted.
The release of the bankruptcy of the Bank of Ghana is over 18 months, in line with its commitment to the banking sector; and structural reforms to the public financial management and oversight of the state-owned enterprises.
Meanwhile, the report state that the three biggest economies in the region – Nigeria, South Africa and Angola will grow the slowest.
Nigeria's GDP growth rate is projected to be 2.1%. South Africa will be 1.2% and Angola o.4%.
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