The IMF has expressed cautious optimism over Ghana’s execution of an extended credit facility (ECF), with fiscal indicators showing signs of improvement, but has warned that some inflationary concerns remain.
Ghana
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Although Ghana’s cocoa production fell short of industry forecasts for the 2015/16 growing season, increased investment in seed development programmes and infrastructure upgrades should improve output over the coming years.
In spite of a broader slowdown in the economy, Ghana’s ICT sector has seen high double-digit growth over the past 12 months, supported by new infrastructure and value-added mobile services.
Higher levels of infrastructure investment in the coming months should help Ghana’s construction industry rally after a slow start to 2016, although rising costs risk squeezing profit margins.
Plans to launch a commodities exchange and begin trading derivatives should help strengthen links between Ghana’s capital markets and the agriculture sector, to the benefit of local producers.