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Ghana on right track for growth, says Tsiboe-Darko

Tsiboe-Darko

Dr Antoinette Tsiboe-Darko

Antoinette Tsiboe-Darko, the executive director of the Danquah Institute, has expressed optimism about the country’s economic future following a positive forecast from the International Monetary Fund (IMF).

The IMF recently projected Ghana’s economy to grow by 4.4% in 2025, a significant increase from the 2.8% growth anticipated for 2024.

Tsiboe-Darko attributes this growth to the government’s commitment to fiscal prudence.

Speaking on The Forum on Asaase 99.5 on Saturday (April 20), Tsiboe-Darko pointed to Ghana’s recovering growth trajectory, aligning with pre-pandemic levels.

She highlighted positive indicators such as a declining inflation rate and a stabilising currency.

“Looking at how our growth is going and looking at how fast we’ve been able to recover and put ourselves back on the same growth trajectory that we were pre-COVID era, the signs are positive, the indicators are positive and I also strongly believe that if we continue on that same path where we see our inflation rate dropping, depreciation becoming more stable.”

Tsiboe-Darko emphasised the government’s increased resilience, demonstrated by spending cuts and rising tax revenue. This improved domestic capacity, she believes, strengthens Ghana’s ability to weather external shocks that previously impacted the economic growth rate.

“Government’s commitment to ensuring that we are able to maintain the debt situation and ensure that we are being very prudent in the way public expenditure is being used, concentrating on key infrastructure project and ensuring that we don’t go beyond. And let’s be honest, this is an election year, so I think this resilient nature that government has grown, cutting down expenditure, and if we looked especially at the kind of tax revenue that we are now raking in shows us that our internal capacity has also grown, making us even more resilient to these external shocks that seem to have given us that nosedive with the economic growth rate dropping from 2021 to 2022.”

“I see this as very positive and the IMF coming to affirm the fact that even what they predicted is lower,” Tsiboe-Darko concluded.

“I think we are on the right path,” she added.

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