The International Monetary Fund (IMF) has cut global growth projection to 3.7 per cent for this year  and 2019.
The Fund says the global economy’s growth target has dropped by 2 percent from the initial 3.9 percent.
The Economic Counsellor and Director of Research Department at the IMF, Maurice Obstfeld disclosed the Fund’s new projection for global economic growth.
Addressing the media on the World Economic Outlook, in Bali, Indonesia, Mr. Obstfeld said developments on the global market have warranted a revision of their earlier decision.
These include instances where some key economies have supported their growth with policies that seem unsustainable over the longer term.
Again, the challenges that have confronted three major economies in Africa that is; Nigeria, South Africa and Angola, have impacted the region’s growth which has also affected overall global growth.
The Briton Woode institution is also projecting growth of 1.9 and 0.8 percent for Nigeria and South Africa while it is predicting contraction of 0.1 percent for Angola.
Also, the IMF admits that though oil producing countries like Nigeria are going to benefit from higher prices, it sees signs of lower investment in manufacturing , coupled with weaker trade growth.
It is unclear how this projection is going to affect the Fund’s assessment of Ghana’s economic performance as the country nears the completion of the three year program.
Either ways, Ghana’s performance or otherwise in the eyes of the Fund may be judged based on the conditions set when the agreement was first signed in 2015.
A Civil/Structural Engineer & Freelance Blogger, Journalist, Social Media Mogul, Digital Marketer, Entrepreneur, and Philanthropist. CEO of Skyline Consortium & 9189 Media Consult and Co-Founder of Team Sarkodie. An alumnus of Prempeh College where he read General Science. He holds a first degree in Bachelor of Science from the Kwame Nkrumah University of Science and Technology. His mentors are Alvar Alto, Rupert Murdoch, Piers Mogan, Mensa Otabil, Bernard ElBernard Nelson-Eshun. Blogs for; http://www.233times.com | www.paemuka.com | http://www.playmusicgh.com | http://www.muzikiq.com | http://www.brandsaid.biz . Social Media Manager for Eon3 Group | BrandsAid | Kings Crown Media | Carabao Africa Ghana & Africa | Calvary Temple - ICGC | Team Sarkodie | Muzik IQ | Kwaw Kese Please inquire more via Email: [email protected] | [email protected] Instagram & Twitter: @wise_tskd Facebook: Ell Samwise LinkedIn: EllSamwise King Dogbeview all posts by: Ellsamwise King
233times.com is a Ghanaian media house which serves as a major source of exclusive interviews ,music and video downloads, news and more.
233times.com reports on major events,news covering entertainment, politics, sports, etc from within Ghana, Africa and beyond.
We have a platform for the amateur artistes to portray their staggering talents ...more...
To advertise with us or make enquiries, please visit 233times.com/advertise or call +233249455142 (Selorm), +233248185848 (Nana Kwesi)