Ghana: Selected Economic and Financial Indicators, 2010-13 |
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2010 |
2011 |
2012 |
2013 |
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Act. |
Act. |
Est. |
Proj. |
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(Annual percent change ; unless otherwise specified) |
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National account and prices |
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GDP at constant prices |
8.0 |
15.0 |
7.9 |
7.9 |
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Real GDP (nonoil) |
6.5 |
9.4 |
7.8 |
5.9 |
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Real GDP per capita |
5.3 |
12.1 |
5.2 |
5.2 |
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GDP deflator |
16.5 |
13.0 |
13.3 |
13.7 |
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Consumer prices |
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Consumer price index (annual average) |
107 |
8.7 |
9.2 |
10.3 |
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Consumer price index (end of period) |
8.6 |
8.6 |
8.8 |
10.8 |
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Money and credit |
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Net domestic assets |
27.1 |
28.7 |
51.9 |
44.8 |
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Credit to the private sector |
25.7 |
29.0 |
32.9 |
38.4 |
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Broad money (M3, including foreign currency deposits) |
34.6 |
32.2 |
24.3 |
27.8 |
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Velocity (GDP/M2, end of period) |
3.3 |
3.1 |
3.0 |
2.9 |
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Base money |
45.0 |
31.1 |
36.0 |
24.0 |
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Banks' lending rate (weighted average; percent) |
… |
25.9 |
25.7 |
… |
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Policy rate (in percent, end of period) |
13.5 |
12.5 |
15.0 |
… |
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(Percent of GDP) |
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External sector |
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Current account balance |
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(including official grants) |
-8.6 |
-9.1 |
-12.2 |
-11.9 |
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(excluding official grants) |
-9.2 |
-9.7 |
-12.8 |
-12.4 |
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Foreign direct investment (net) |
7.9 |
8.3 |
8.1 |
7.3 |
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External public debt (including IMF) |
20.0 |
21.0 |
21.9 |
22.5 |
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NPV of external debt outstanding |
8.4 |
11.5 |
10.8 |
9.4 |
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percent of exports of goods and services |
28.6 |
30.6 |
26.0 |
26.9 |
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Gross international reserves (mn. of US$) |
4,680 |
5,383 |
5,349 |
4,927 |
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Months of prospective Imp. of goods services |
2.9 |
2.9 |
2.8 |
2.5 |
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Total donor support (millions of US$) |
1,595 |
1,597 |
1,272 |
1,869 |
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percent of GDP |
3.5 |
2.7 |
3.1 |
4.1 |
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Central government budget |
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` |
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Total revenue |
14.5 |
17.3 |
17.7 |
19.1 |
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Grants |
2.4 |
2.0 |
1.6 |
1.4 |
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Total expenditure |
22.8 |
20.7 |
27.7 |
28.0 |
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Arrears clearance and VAT refunds |
1.1 |
2.1 |
0.1 |
0.9 |
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Overall balance (financing basis) |
-7.2 |
-4.0 |
-11.8 |
-10.0 |
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Net domestic financing |
4.7 |
3.3 |
9.3 |
7.1 |
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Central government debt (gross) |
46.4 |
43.7 |
50.2 |
51.4 |
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Domestic debt |
26.3 |
22.8 |
28.3 |
29.0 |
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External debt |
20.1 |
21.0 |
21.9 |
22.5 |
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Central government debt (net) |
43.2 |
39.9 |
48.0 |
49.5 |
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Memorandum items: |
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Nominal GDP (millions of GHc) |
46,043 |
59,816 |
73,109 |
89,689 |
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GDP per capita (millions of U.S. dollars) |
1,358 |
1,594 |
1,622 |
1,786 |
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Sources: Ghanaian authorities; and IMF staff estimates and projections. Based on new national accounts rebased to 2006. Percent of broad money (including foreign currency deposits) at the beginning of the period. |
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Click here for Selected Economic and Financial Indicators 1999-2003
Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board. At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country's authorities. An explanation of any qualifiers used in summings up can be found here: www.imf.org/external/np/sec/misc/qualifiers.htm