IMF tips Ghana to win World Cup 2010

  1. Posted on Monday 22 March 2010 - 15:00
    Gbentil
    Image of Gbentil
    Glorea Bentil, AfricaNews reporter in Accra, Ghana Photo: Emmanuel Yankey
    The International Monetary Fund (IMF) has released a report that states that West African nation Ghana are ranked as favourites for the 2010 World Cup in South Africa - but in the financial sector, not on the pitch. Fellow West African country Nigeria is predicted to follow closely with a 5% annual change.
    Ghana
    The figures of the report collated by the M&G Investments state that the four-time African champions will have an annual percentage change of 5% this year as a result of the global football fiesta, more than any other nation competing at the summer tournament.

    Chile is third favourite for the ‘IMF GDP World Cup' with an expected 4% change.

    England (represented as UK) is 22nd favourite with GDP change expectations of less than 1%, while Spain - World Cup favourites with most bookies - are bottom of the IMF list with a figure approaching -1%.

    Brazil, five-time World Cup winners and second favourites to win this summer's tournament, are 10th on the IMF's chart.

    According to the Bond Vigilantes website, host South African treasury estimate that GDP will be boosted by 0.5 percent as fans follow their teams to the country for the world’s most watched tournament.

    So far South Africa have spent 33 billion rand (almost £3 billion) and more than 130,000 jobs have been created between 2007 and 2010. At the previous World Cup in 2006, the German Government estimated over ¤3 billion was added to the economy with ¤400 million pumped into the country during the month of the World Cup.

    It is estimated that this boosted German GDP by around 0.4%, the direct result of a large increase in consumption.

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