Current Account in Ghana
Ghana - Current AccountAlthough the full picture is still unclear, available economic data signals that the pace of growth decelerated in recent months. The PMI deteriorated markedly through August from May’s eight-month high, suggesting that momentum in Ghanaian business conditions continued to lose steam due to lower output and slower growth in new orders. On the other hand, exports accelerated significantly in the second quarter amid robust global demand for gold and cocoa, the country’s top export commodities. In addition, import growth slipped in Q2 as the weak cedi and elevated inflation weighed on consumer demand for foreign goods. In mid-September, the government agreed to coordinate a price floors for cocoa farmers with neighboring Cote d’Ivoire, in an effort to better control supply in the global market. Meanwhile, on 14 September, S&P Global Ratings upgraded Ghana’s credit rating from 'B-' to 'B' citing improved monetary policy effectiveness and banking sector stability.
Ghana - Current Account Data
|Current Account (% of GDP)||-12.6||-9.9||-7.8||-6.7||-4.5|
5 years of economic forecasts for more than 30 economic indicators.
Ghana Current Account Chart
Source: Bank of Ghana
|Exchange Rate||4.94||0.0 %||Sep 24|
|Stock Market||0.5||0.0 %||Sep 21|
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September 12, 2018
Inflation accelerated to 9.9% in August, from 9.6% in July.
September 5, 2018
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) remained stable from July at a nearly two-year low of 51.8 points in August.
August 15, 2018
Inflation came in at 9.6% in July, down from 11.0% in June.
August 3, 2018
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) fell from 52.7 points in June to 51.8 points in July, marking the lowest reading since September 2016.
July 23, 2018
At its three-day meeting concluding on 20 July, the Monetary Policy Committee (MPC) of the Bank of Ghana (BOG) kept the monetary policy rate unchanged at 17.00%.