ACCRA: Ghana’s economy grew 3.8% year-on-year in the fourth quarter of 2023, the country’s statistics agency said on Wednesday, compared to the 2.0% growth rate previously announced for the third quarter.

The West African country is starting to recover from its worst economic crisis in a generation, brought on by spiralling public debt.

IMF board approves $3 billion Ghana loan agreement

After defaulting on most of its overseas debt in 2022, Ghana in January reached a deal to restructure $5.4 billion of loans with its official creditors. It is now pushing for a deal with holders of about $13 billion in international bonds.