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Ghana: Selected Economic and Financial Indicators, 2010-13

 

 

2010

2011

2012

2013

 

Act. 

Act. 

 Est.

 Proj.

 

 

(Annual percent change ; unless otherwise specified)

National account and prices

 

 

 

 

GDP at constant prices

8.0 

15.0

7.9

7.9

Real GDP (nonoil)

6.5 

9.4

7.8

5.9

Real GDP per capita

5.3 

12.1

5.2

5.2

GDP deflator

16.5 

13.0

13.3

13.7

Consumer prices

 

 

 

 

Consumer price index (annual average)

107 

8.7

9.2

10.3

Consumer price index (end of period)

8.6 

8.6

8.8

10.8

 

 

 

 

 

Money and credit

 

 

 

 

Net domestic assets

27.1 

28.7

51.9

44.8

Credit to the private sector

25.7 

29.0

32.9

38.4

Broad money (M3, including foreign currency deposits)

34.6 

32.2

24.3

27.8

Velocity (GDP/M2, end of period)

3.3 

3.1

3.0

2.9

Base money

45.0 

31.1

36.0

24.0

Banks' lending rate (weighted average; percent)

25.9

25.7

Policy rate (in percent, end of period)

13.5 

12.5

15.0

 

(Percent of GDP)

External sector

 

 

 

 

Current account balance

 

 

 

 

(including official grants)

-8.6 

-9.1

-12.2

-11.9

(excluding official grants)

-9.2 

-9.7

-12.8

-12.4

Foreign direct investment (net)

7.9

8.3

8.1

7.3

External public debt (including IMF)

20.0 

21.0

21.9

22.5

NPV of external debt outstanding

8.4 

11.5

10.8

9.4

percent of exports of goods and services

28.6 

30.6

26.0

26.9

Gross international reserves (mn. of US$)

4,680 

5,383

5,349

4,927

Months of prospective Imp. of goods services

2.9 

2.9

2.8

2.5

Total donor support (millions of US$)

1,595 

1,597

1,272

1,869

percent of GDP

3.5 

2.7

3.1

4.1

Central government budget

 

 

`

 

Total revenue

 14.5

17.3

17.7

19.1

Grants

 2.4

2.0

1.6

1.4

Total expenditure

 22.8

20.7

27.7

28.0

Arrears clearance and VAT refunds

 1.1

2.1

0.1

0.9

Overall balance (financing basis)

 -7.2

-4.0

-11.8

-10.0

Net domestic financing

 4.7

3.3

9.3

7.1

Central government debt (gross)

 46.4

43.7

50.2

51.4

Domestic debt

 26.3

22.8

28.3

29.0

External debt

 20.1

21.0

21.9

22.5

Central government debt (net)

 43.2

39.9

48.0

49.5

Memorandum items:

 

 

 

 

Nominal GDP (millions of GHc)

46,043 

59,816

73,109

89,689

GDP per capita (millions of U.S. dollars)

1,358 

1,594

1,622

1,786

 

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.

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