IMANI President takes a swipe at Gov’t for 2.7% GDP growth in 2024 as against 11.1% GDP growth by terrorist, coup-hit Niger
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.
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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.
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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.
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“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.
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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
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