Ghana finance ministry sees swift recovery from COVID-19 slump
Ghana's Finance Ministry revised up its 2020 growth forecast on Wednesday and forecast a rebound to 5.9% next year as the economy recovers from its first contraction in almost four decades due to the coronavirus pandemic. The West African nation, a major producer of gold, oil and cocoa, saw gross domestic shrink 3.2% in the second quarter after a three-week lockdown in March forced many businesses to close. But lower prices and a stabilised exchange rate have boosted business optimism and led the ministry to expect growth this year of 1.9% versus an earlier estimate of 0.9%, Finance Minister Ken…