{"id":15815,"date":"2023-04-19T11:14:33","date_gmt":"2023-04-19T11:14:33","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/ghanas-economy-grew-3-7\/"},"modified":"2023-04-19T11:20:16","modified_gmt":"2023-04-19T11:20:16","slug":"ghanas-economy-grew-3-1","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/ghanas-economy-grew-3-1\/","title":{"rendered":"Ghana&#8217;s economy grew 3.1% in 2022, 3.7% in fourth quarter, statistics office says"},"content":{"rendered":"<p>By Christian Akorlie<\/p>\n<p>ACCRA (Reuters) -Ghana&#8217;s economy grew 3.1% year-on-year in 2022, compared with a growth rate of 5.1% the previous year, the country&#8217;s statistics agency said on Wednesday.<\/p>\n<p>The West African country&#8217;s gross domestic product grew 3.7% year-on-year in the fourth quarter, compared with 2.9% in the previous quarter &#8211; its worst performance since the start of 2021.<\/p>\n<p>Growth for both the fourth quarter and the whole of 2022 was underpinned by services, mostly in the information and communication sub-sector.<\/p>\n<p>This was followed by industry, with most growth observed in mining and quarrying, and agriculture.<\/p>\n<p>Gold, oil and cocoa-producing Ghana is battling its worst economic crisis in a generation, brought by currency depreciation and growing debt coupled with high interest rates.<\/p>\n<p>Inflation reached a more than two-decade high of 54.1% in December, but has since slowed, falling to 45% year-on-year in March.<\/p>\n<p>The government has been unable to redress the situation and service its debt despite spending cuts and several central bank interest rate hikes.<\/p>\n<p>It turned last year to the International Monetary Fund (IMF), which agreed to provide a $3 billion loan conditional on debt restructuring. <\/p>\n<p>Ghana&#8217;s Finance Minister Ken Ofori-Atta said last week that he expected the IMF&#8217;s board to approve the support package in May.<\/p>\n<p> (Reporting by Christian AkorlieWriting by Sofia ChristensenEditing by Estelle Shirbon, William Maclean)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/ghanas-economy-grew-3-7\/people-walk-on-the-street-around-kwame-nkrumah-circle-in\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3I0BH-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3I0BH-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Christian Akorlie ACCRA (Reuters) -Ghana&#8217;s economy grew 3.1% year-on-year in 2022, compared with a growth rate of 5.1% the previous year, the country&#8217;s statistics agency said on Wednesday. The West African country&#8217;s gross domestic product grew 3.7% year-on-year in the fourth quarter, compared with 2.9% in the previous quarter &#8211; its worst performance since [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":15816,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[1223],"class_list":["post-15815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3I0BH-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/15815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=15815"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/15815\/revisions"}],"predecessor-version":[{"id":15868,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/15815\/revisions\/15868"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/15816"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=15815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=15815"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=15815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}