President of Think Tank, IMANI Ghana, Franklin Cudjoe, has taken a swipe against the Government, describing Government as being full of “chest-thumping incompetent talkertives”.
Mr Cudjoe in a social media post on Thursday, noted that despite being hit with coups as well as being adversely impacted by the Covid-19 pandemic and the Russian-Ukraine war, African countries like Niger, Burkina Faso, and Libya are projected by the IMF to record real GDP growth of 11.1%, 6.5% and 7.5% in 2024 respectively.
Ghana on the other hand, despite experiencing the same level of adverse economic impact of the Covid-19 pandemic and the Russian-Ukraine war and being fortunate enough not to be hit with a coup, barely manages a 2.7% real GDP growth in 2024.
“Niger, Burkina Faso, both paralysed by terrorists and ruled by military junta are projected to grow in real terms by 11.1% and 6.5% respectively. Add Libya, a country balkanised and controlled by blood thirsty maniacs will grow at 7.5%. Nine (9) other African countries projected to grow at least 6%. Note these African countries were not spared the ravages of Covid-19, Russia’s war on Ukraine and also by Israel’s war on Gaza.
“Our beloved country, ramshackled economically by neither terrorists nor the military, but by chest-thumping incompetent talkertives will manage 2.7%, that is if they do not finish selling the country to buy votes during the elections in 2024,” Mr Cudjoe wrote on social media.
According to the IMF’s October 2023 World Economic Outlook for 2024, Niger, Senegal, Libya, Rwanda, Cote d’Ivoire, Burkina Faso and Benin will be among the fastest-growing economies in the World.
Macao SAR and Guyana in the Asia Pacific and Americas respectively, are projected to be the two fastest-growing economies in the world recording 27.2% and 26.6% real GDP growth in 2024.
| Country | Region | GDP Growth 2024 (%) |
|---|---|---|
| 🇲🇴 Macao SAR | Asia Pacific | 27.2 |
| 🇬🇾 Guyana | Americas | 26.6 |
| 🇵🇼 Palau | Asia Pacific | 12.4 |
| 🇳🇪 Niger | Sub-Saharan Africa | 11.1 |
| 🇸🇳 Senegal | Sub-Saharan Africa | 8.8 |
| 🇱🇾 Libya | Middle East and North Africa | 7.5 |
| 🇷🇼 Rwanda | Sub-Saharan Africa | 7.0 |
| 🇨🇮 Côte d’Ivoire | Sub-Saharan Africa | 6.6 |
| 🇧🇫 Burkina Faso | Sub-Saharan Africa | 6.4 |
| 🇧🇯 Benin | Sub-Saharan Africa | 6.3 |
| 🇮🇳 India | Asia Pacific | 6.3 |
| 🇬🇲 The Gambia | Sub-Saharan Africa | 6.2 |
| 🇪🇹 Ethiopia | Sub-Saharan Africa | 6.2 |
| 🇰🇭 Cambodia | Asia Pacific | 6.1 |
| 🇹🇿 Tanzania | Sub-Saharan Africa | 6.1 |
| 🇧🇩 Bangladesh | Asia Pacific | 6.0 |
| 🇩🇯 Djibouti | Middle East and North Africa | 6.0 |
| 🇧🇮 Burundi | Sub-Saharan Africa | 6.0 |
| 🇵🇭 Philippines | Asia Pacific | 5.9 |
| 🇻🇳 Vietnam | Asia Pacific | 5.8 |
| 🌍 World Average | — | 2.9 |
Ghana’s subdued real GDP growth rate for 2024 is on the back of its current macroeconomic crisis resulting from its unsustainable debt due to over-borrowing and the loss of its access to the international capital markets.
The country is currently under an IMF-supported programme aiming to restructure some $10bn of its $29bn external debts after successfully re-structuring over GHS 203bn ($16.9bn) in domestic debt.
Source: Norvanreports