Ghana Economy Rebounds with 6% GDP Growth

Ghana’s economy has stabilized and is back on track after a severe crisis. The country achieved a Gross Domestic Product (GDP) growth of 6% in 2025. Inflation has fallen sharply to 3.4% as of April 2026. These were key announcements made by Finance Minister Dr. Cassiel Ato Baah Forson.

Dr. Forson spoke at a town hall meeting in London with the Ghanaian diaspora community. He stated that the government inherited a damaged economy. In 2022, Ghana faced significant economic problems. The Ghanaian cedi weakened considerably against foreign currencies. Inflation rose very rapidly. Investor confidence dropped sharply. The country lost its ability to borrow money from international markets. This period was described as a profound and traumatic crisis.

Credit rating agencies such as Moody’s, S&P, and Fitch downgraded Ghana’s economic standing in 2022. These downgrades made it very difficult to get loans. Global markets for bonds became inaccessible. This worsened financial conditions for both the government and businesses. At one point, Ghana could not access international capital markets at all. The cost to borrow money increased dramatically. Major financial institutions found it hard to get foreign loans.

However, the economy is now stable again. This turnaround is credited to strict government spending plans and good policy choices. Non-oil GDP growth reached 7.6% in 2025. This is the highest rate in 14 years. Ghana's total economic output, its GDP, has now exceeded $100 billion. This makes Ghana the eighth-largest economy in Africa. The average income per person, GDP per capita, has increased to $3,385.

Regarding national debt, Ghana has moved from a high risk of financial trouble to a moderate risk. The ratio of debt to GDP is now 44.7%. This is better than what international lenders like the International Monetary Fund (IMF) had predicted. The interest rates on short-term government loans, known as Treasury bill rates, have also dropped significantly. The 91-day Treasury bill rate fell from 28.4% to 4.8%. This indicates improved investor confidence in Ghana’s economy.

The central bank's policy rate has also decreased. This makes it cheaper for businesses and the government to borrow money. In 2025, Ghana recorded a surplus in its current account. A current account surplus means the country earned more from trade and other international dealings than it spent. This surplus was 8.3% of GDP. This is a major positive change from past deficits. These improvements show the effect of careful financial management and discipline.

Dr. Forson considers the diaspora as vital partners for national progress. He encouraged Ghanaians living abroad to invest in their homeland. He also mentioned plans to improve cooperation between the Bank of Ghana, the central bank, and the Ministry of Finance. This collaboration aims to better use money sent home by Ghanaians living abroad, known as remittances. These remittances exceeded $7 billion last year. The Minister stated that Ghana is open for business and wants the diaspora to contribute to its economic growth.