Business News of Wednesday, 21 July 2021Source: www.ghanaweb.comThe International Monetary Fund (IMF) has outlined in detail, how the global coronavirus pandemic devastated Ghana's economy in 2020. "Ghana was hit hard by the COVID-19 pandemic," the IMF said in its assessment. Growth slowed to 0.4 percent in 2020 from 6.5 percent in 2019, food prices spiked, and poverty increased. On the Cedi, the IMF assessed that it remained stable, despite the effects due to pragmatic steps by the Central Bank. ENCOURAGING SIGNS OF ECONOMIC RECOVERYAfter over a year of devastation, the IMF's assessment has commended Ghana’s economic management for "encouraging signs" towards economic recovery.

Source: GhanaWeb July 21, 2021 12:45 UTC