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Ghana Macro Update: August 2011

Ghana Macro Update: August 2011

Written by Citi Thursday, 25 August 2011 16:43

On 15 December 2010, Ghana became the world’s newest oil producer. In many ways, the start of oil production in Ghana adds the icing on the cake of what has been a steady improvement in overall economic performance since the fiscal crisis and slowdown of the world economy in 2008 knocked the economic sideways in 2009.

A clear feature of Ghana’s recent economic history has been fiscal crises following close elections in 2000 and 2008. Moreover, despite the overall strong economic performance of recent years, progress with fiscal consolidation has been slow in the last few years and we expect the deficit to remain significant in the run up to the December 2012 polls. more>>>

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