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Initial reports from the IMF are indicating that Ghanas economy will show a moderate growth of 4-5% this year, in line with earlier forecasts. Stronger gold and cocoa exports have supported the economy and good weather conditions have helped the agricultural sector.
The IMF reports that inflation has dropped to around 18 percent in September and points out that the challenge in 2010 will be to tackle Ghanas rising public debt.
In other news, efforts are underway to strengthen Ghanas institutions before the country becomes an oil producer in 2011. Part of this will be the establishment of a single Ghana Revenue Authority instead of three separate tax agencies as at present.