Week Ahead: Persistent Low Oil Prices Will Temper Ghana Growth
In the week ahead, we are awaiting Ghana Q2 GDP growth figures. After a fairly robust 4.9% y-o-y Q116 reading, we expect a moderately slower pace of expansion in the months ahead. Low oil prices will have constrained government expenditure as it has strived to abide by the IMF's spending limits, and investors remain cautious given the risks related to the upcoming December presidential elections. This underpins our view for 4.1% real GDP growth in 2016.