ACCRA: Ghana’s central bank on Monday kept its main interest rate (GHCBIR=ECI) at 30.00% as forecast by a Reuters poll of analysts, citing lower inflation, a stabler exchange rate and relatively strong economic growth.
Bank of Ghana Governor Ernest Addison said recent data suggested growth was more robust than expected, projecting GDP would expand by some 3% this year, compared with an International Monetary Fund (IMF) forecast of 1.6%.
“The consensus view of the Monetary Policy Committee is that we should see stronger growth than projected under the (IMF) programme,” he told reporters, referring to a $3 billion support package from the Fund that is conditional on debt restructuring.
The West African cocoa, gold and oil producer has been grappling with its worst economic crisis in a generation, characterised by double-digit inflation and ballooning public debt.
The capital Accra has been hit by several days of anti-government protests driven by anger over economic hardship. –Agencies
