Although the expected growth of 5.2% is the lowest among other economic researchers, the World Bank has projected a growth of 5.5% for 2022. Also, the parent company of Stanbic Bank, Standard Bank has predicted an economic growth rate of about 6.2% in 2022 and 6.8% in 2023 amidst tough times
He chided President Nana Akufo-Addo’s comments he made during the recent interview with the BBC, where the President sought to defend the state of the Ghanaian economy as a result of the impact of the COVID-19 pandemic and the Russian – Ukraine War.
In his address, he announced the drastic easing of various restrictions including reopening the country’s land and sea borders as well as the no more negative PCR test for fully vaccinated travelers.
Another sign before Covid -19 was that instead deploying policies to support the efforts of the Bank of Ghana to manage the currency, the government usurped the constitutional mandate of the Bank of Ghana to establish exchange rate management committee which could not deliver.
The Government of Ghana and World Bank Group’s (WBG) Board of Executive Directors concluded a discussion on a new five-year Country Partnership Framework (CPF) for Ghana for 2022 to 2026.