monetary policy report

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Global Economic Developments and Ghana’s Balance of Payments – January 2021

Global Economic Developments and Ghana’s Balance of Payments – January 2021

Global growth rebounded strongly in the third quarter of 2020, supported by the easing of restrictions across many countries. Although the third quarter momentum was expected to prolong into the last quarter of 2020, the December 2020 high frequency data suggested some tapering of global growth. Also, the rising COVID-19 infections (including new variants of the virus) and the re-imposition of restrictions to contain the spread of the virus are expected to soften global growth in the near-term.