ACCRA (Reuters) – Ghana’s economy grew 3.7% year-on-year in the fourth quarter of 2022, compared with 5.6% during the same quarter of the previous year, the country’s statistics service said on Wednesday.
Ghana is battling its worst economic crisis in a generation and has been unable to redress the situation despite government spending cuts and several central bank interest rate hikes.
The government of the gold, oil and cocoa-producing nation turned last year to the International Monetary Fund (IMF), which agreed to provide a $3 billion loan conditional on debt restructuring.
Ghana’s Finance Minister Ken Ofori-Atta said last week that he expected the IMF’s board to approve the support package in May.
(Reporting by Christian Akorlie; Writing by Sofia Christensen; Editing by Estelle Shirbon)
