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IMF Sees Ethiopia Beating Ghana as Fastest-Growing Africa Economy

  • East African economy has held position for most of past decade
  • Ghana GDP surged 8.5% in 2017 as Sankofa field started output
Office buildings stand beyond the Addis Ababa light rail track in Addis Ababa, Ethiopia.

Office buildings stand beyond the Addis Ababa light rail track in Addis Ababa, Ethiopia.

Photographer: Xaume Olleros/Bloomberg

Ana Monteiro and Ntando Thukwana
Updated on

Ghana has lost its mantle as the African economy likely to grow the quickest this year to Ethiopia, which has held the position for most of the past decade, International Monetary Fund data showed.

West Africa’s second-biggest economy should expand 6.3 percent this year, the IMF said in its World Economic Outlook released Tuesday. That’s lower than the 8.9 percent forecast in October, and is also less than the raised 7.4 percent estimate for Ivory Coast and the prediction for Ethiopia, which was held at 8.5 percent.