Africa's Growing and Declining Economies

On this week’s edition of Business Chronicle we looked at latest International Monetary Fund (IMF) report which indicates that Ghana will be the fastest-growing economy in the world this year.

In the report, the IMF predicts that Ghana’s economy will grow at 8.8 percent in 2019, a rate it says is the fastest in the world.

Caleb Ato Dadson a senior Analyst based in London said the main factor driving the economy is the recent oil prices the world is experiencing and the recent development in the oil sector in Ghana.

According to President Alexander Van der Bellen, the management of the Ghanaian economy, especially over the last two years, for which Ghana is projected to be the fastest growing economy in the world in 2019, has made the country very attractive for investors from Austria. pic.twitter.com/TgKtfQCI4O

— Kay (@Kwesi_Agyei_) May 27, 2019

We also looked at Zimbabwe treasury statistics which shows that economic meltdown in Zimbabwe is expected to worsen in 2019, partly due to the out-of-control inflation.