The World Bank has approved a $300 million financing package to support Ghana’s efforts to phase out the double-track system in Senior High Schools by 2027. The funding will be used to implement the Transformative Secondary Education for Access, Results and Relevance for Jobs (STARR-J) Project, a major education initiative aimed at expanding access to […]
The World Bank projects 4.8% growth for Ghana in 2026, alongside an end-of-year inflation rate of 9%. These forecasts were contained in the Bank’s latest Africa Economic Update report released on April 8. Details The 4.8% growth projection is in line with the government’s estimate captured in the 2026 budget. However, compared to 2025, the […]
President John Dramani Mahama has expressed shock at the speed with which his government has been able to turn around the economy, describing the rapid recovery as only by the grace of God. “In my own imagination, I thought it would take about two years to see an economic turnaround. Today, IMF officials themselves are […]
Developing countries paid out $741 billion more in principal and interest on their external debt than they received in new financing between 2022 and 2024—the largest gap in at least 50 years, according to the World Bank’s latest International Debt Report released today. Still, most countries gained some breathing room on their debt last year […]
Economist Professor Peter Quartey says Ghana’s economy could outperform the growth projections set by the International Monetary Fund (IMF) and the World Bank for 2025. The IMF, in its latest World Economic Outlook, forecasts Ghana’s GDP to grow by 4 per cent next year — slightly below the World Bank’s 4.3 per cent estimate. Both institutions […]
The World Bank now expects Ghana’s economy to end 2025 with a growth rate of 4.3%, up from its earlier projection of 3.9%. This was contained in the October 2025 edition of the Africa’s Pulse Report released by the Bank in Washington, D.C., USA. The revised projection is slightly higher than the 4.4% growth target […]
The World Bank has disbursed $360 million from its International Development Association (IDA) for Ghana. The disbursement is coming under the Second Resilient Recovery Development Policy Financing operation, to support the Government of Ghana’s efforts to restore macroeconomic stability and reinforce the foundations for more sustainable and resilient economic growth for job creation. This was after the World […]
The World Bank has issued a definitive statement dispelling speculation about the status of its funded projects in Ghana. In a brief but crucial communication released today, the global financial institution stated unequivocally, “No projects in the World Bank-financed portfolio in Ghana are currently suspended.” This clarification comes amidst recent concerns and reports suggesting that […]
World Bank Country Director for Ghana, Liberia, and Sierra Leone, Robert Taliercio, has cautioned Ghana against making a premature return to international capital markets, warning that such a move could undermine the country’s recent economic recovery. Speaking at the launch of the World Bank’s latest Public Finance Review report, titled “Building the Foundations for a Resilient […]
Ghana placed 2nd in remittance flows to Africa in 2023, the World Bank has revealed in its 2024 Migration Development Report. The country recorded $4.6 billion in remittance receipts in 2023. Nigeria came 1st with remittance flows of $19.5 billion. Kenya, Zimbabwe and Senegal came 3rd, 4th and 5th with inflows of $4.2 billion, $3.1 billion and […]
Finance Minister, Dr. Mohammed Amin Adam, has announced that the country’s economy is undergoing a robust rebound after enduring significant challenges over the past two years. He noted that all key indicators are trending positively and are expected to improve further. Speaking at a UK Town Hall meeting on Saturday, June 22, Dr Amin Adam […]
The World Bank has called for transparency and accountability in government’s School Feeding Programme. It warned that it may be forced to cut financial support to the School Feeding Programme if government fails to implement reforms that address full transparency and accountability. In an interview on the Business Edition of PM Express on Thursday, the World Bank […]
