Global Economic and External Sector Developments Report – July 2020
(WorldNews Turkey)

B K A N ES O T. F G H A N A 7 5 19 Bank of Ghana Monetary Policy Report Global Economic Developments & Ghana`s Balance of Payments Vol. 1 No. 4/2020 July 2020 Highlights The impact of COVID-19 pandemic on global economic activity is deeper than earlier anticipated. The IMF now expects global growth to contract by 4.9 percent in 2020, a 1.9 percentage points lower than suggested by the April 2020 forecast. Global inflationary pressures remain subdued reflecting lower oil prices, sharp drops in real GDP, and the associated significant increase in labour market slack. Global financial conditions have eased somewhat since March 2020, supported by rapid and aggressive policy measures, but...