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Tag Archives: IMF

Only 47,000 out of 2m pay direct taxes in Kumasi – Adu Boahen

Charles Adu Boahen-Deputy Finance Minister

Although Kumasi in the Ashanti Region has about two million residents who engage in income-earning activities, only 47,000 of them pay direct taxes to the state. This was disclosed by a Deputy Minister of Finance, Charles Adu Boahen at Citi FM’s Economic Outlook programme held at the University of Ghana today, Thursday. “There’re a lot of expectations we [Ghanaians] have ...

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IMF backs new revenue plans in midyear budget review


The International Monetary Fund (IMF) has urged that the government’s midyear budget review focuses on how the government intends to cater for the shortfall in revenue targets for the year. In what seems to be the Fund’s prior knowledge of the focus of the presentation next month, it has welcomed the government’s decision and says it should be completely followed. ...

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IMF team visits Ghana; rising debt high on agenda

Finance Minister, Ken Ofori Atta with Chief of the IMF Mission on the Article IV consultations, Analisa Fedelino(file photo)

The government is confident that the IMF should be satisfied with efforts to reduce the country’s rising debts even as the Fund’s team makes a visit to Ghana. The optimism follows a visit by an IMF team to Ghana as part of monitoring activities under the program. The latest review of Ghana’s performance under the IMF program largely pointed to ...

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IMF to release $236m to Ghana in May

IMF Managing Director - Christine Lagarde

The IMF should be releasing about two hundred and thirty-six million dollars ($236,000,000) to Ghana under the agreement with the Fund, by the first week of May this year. This will be the total of the fifth and sixth disbursements under the economic support program. These among others were the highlights at this year’s spring meetings of the IMF/World Bank ...

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Ghana’s debt hits GH¢142.5bn, reaches 69.8% of GDP

Ken Ofori-Atta - Finance Minister

New figures released by the Bank of Ghana (BoG) after its Monetary Policy Committee (MPC) meeting show that Ghana’s public debt reached 142.5 billion cedis as at December 2017, representing 69.8 percent of GDP. This is a reduction from the 73.3 percent recorded in December 2016. The total debt stock in 2016 was at 122.6 billion cedis. This means that ...

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IMF assesses Ghana ahead of $236m disbursement


The International Monetary Fund (IMF) is expected to disburse at least two hundred and thirty-six million dollars ($236,000,000) of the Fund’s extended credit support to Ghana. The cash is expected to hit the government of Ghana’s accounts within the next few months. This is however subject to Ghana’s ability to meet key targets set under the agreement with the Fund. ...

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IMF approves Ghana’s Public Sector Reforms

Joe Tackie  - Acting Chief Director of the Ministry of Business Development

The International Monetary Fund (IMF) has approved the Public Sector Reforms for Ghana to be implemented in 2018. The reforms are part of efforts to reduce the bureaucracies in Ghana’s public sector and improve efficiency. The Fund has been critical of Ghana’s rising public expenditure which it contends has partly contributed to some economic challenges in terms of rising public ...

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Ghana, IMF yet to decide on mode for energy bond


The International Monetary Fund (IMF) is yet to reach an agreement with the government of Ghana on the mode of issuing the energy bond. Sources close to the matter tell Citi Business News that a final decision is likely to be made next week. The government is currently on a road show in London ahead of the issue of the ...

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Govt to issue energy bond in tranches

Ken Ofori Atta - Finance Minister

Government has disclosed it is considering to issue its energy bond in batches of two or three. Citi Business News understands this may be the case as it will attract relatively lower yields and reduce the debt repayment burden. The decision to avoid a wholesale issuing of the estimated 10 billion cedis or 2.5 billion dollar bond, according to Deputy ...

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Ghana meets only 1 of 11 IMF targets


It is emerging that Ghana may have met only one out of the eleven targets set with the International Monetary Fund (IMF) under the extended credit facility program. The targets were among others to guide the government in achieving key economic growth standards and restore economic stability. Ghana in 2015, entered into an agreement for 918 million dollars to support ...

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