IMF forecasts about global, African economies for 2023 worrying – Oppong Nkrumah

Information Minister, Kojo Oppong-Nkrumah, has described as worrying the recent projection about global and African economies for 2023 by the International Monetary Fund (IMF). He urged colleagues in an economic discourse to interrogate these forecasts and know their causes beforehand. Kojo Oppong-Nkrumah in a tweet sighted by GhanaWeb also called on government to devise strategic solutions to prevent any external shocks from affecting the economy. “The forecasts about the global and African economies in 2023 are very worrying. I encourage my colleagues in economic discourse to interrogate these forecasts and their causes. Additionally, we should examine the adequacy of responses by govts and the proposed alternatives,” Oppong Nkrumah's tweet read. IMF in an earlier tweet projected that growth in sub-Saharan Africa will slow down to 3.6% in 2022. The Bretton Woods institution stated that the growth rate will remain low at 3.7% in 2023. It further said financial stability risks have increased amid the highest inflation recorded in recent times, as well as, the ongoing Russia-Ukraine war. "Growth in sub-Saharan Africa will slow sharply to 3.6% in 2022 and remain low at 3.7% in 2023. IMF's @aselassie presents the analysis in the latest Regional Economic Outlook," IMF's tweet read.

Information Minister, Kojo Oppong-Nkrumah, has described as worrying the recent projection about global and African economies for 2023 by the International Monetary Fund (IMF). He urged colleagues in an economic discourse to interrogate these forecasts and know their causes beforehand. Kojo Oppong-Nkrumah in a tweet sighted by GhanaWeb also called on government to devise strategic solutions to prevent any external shocks from affecting the economy. “The forecasts about the global and African economies in 2023 are very worrying. I encourage my colleagues in economic discourse to interrogate these forecasts and their causes. Additionally, we should examine the adequacy of responses by govts and the proposed alternatives,” Oppong Nkrumah's tweet read. IMF in an earlier tweet projected that growth in sub-Saharan Africa will slow down to 3.6% in 2022. The Bretton Woods institution stated that the growth rate will remain low at 3.7% in 2023. It further said financial stability risks have increased amid the highest inflation recorded in recent times, as well as, the ongoing Russia-Ukraine war. "Growth in sub-Saharan Africa will slow sharply to 3.6% in 2022 and remain low at 3.7% in 2023. IMF's @aselassie presents the analysis in the latest Regional Economic Outlook," IMF's tweet read. The forecasts about the global and African economies 2023 are very worrying. I encourage my collegues in economic discourse to interrogate these forecasts and their causes. Additionally we should examine the adequacy of responses by govts and the proposed alternatives. https://t.co/qbgM00vKve— Kojo Oppong Nkrumah (@konkrumah) October 16, 2022 ESA/FNOQ Watch the latest episode of BizTech below: