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Tag Archives: IMF

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

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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

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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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IMF’s latest statement on Ghana’s program

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The International Monetary Fund (IMF) concluded its fourth review of Ghana’s program with the Fund on Wednesday, August 30, 2017. The review ended with an extension of the program by one year and the approval of US$94.2 million disbursement. For a complete overview of the program so far, read the statement below from the IMF. IMF Executive Board Completes Fourth ...

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IMF, Ghana programme extended by a year

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

The International Monetary Fund (IMF) has extended Ghana’s program with the Fund. The extension will see Ghana end the program in April 2019 instead of April 2018. President Akufo-Addo during his maiden encounter with senior journalists at the Flagstaff House recently stated that government will not extend the programme after it ends on December 2018. However discussions between government officials ...

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New IMF cash to stabilize cedi

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Ghana’s ability to attract another tranche of disbursement by next month under the IMF deal, should strengthen the local currency and restore investor confidence in the economy. That is the assertion of some Economists who have been speaking on the Fund’s progress with the government of Ghana. The comment also comes ahead of the government’s meeting with the Board of ...

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Ghana meets IMF to finalize exit

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

Government is set to meet the board of the International Monetary Fund (IMF) tomorrow to present its decision not to extend the programme. Finance Minister Ken Ofori-Atta in his mid-year budget review indicated that government’s economic team will meet the board in August. Already, President Akufo-Addo has stated that government will not extend the programme when it ends in December ...

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Sustain ties with IMF after December 2018 – IFS to gov’t

imf

The Institute of Fiscal Studies (IFS) has impressed on the NPP not to completely cut ties with the International Monetary Fund (IMF) even after completing the three year program in 2018. The IFS explains that the government’s plans to exit the program after 2018 may be necessary only if it is able to meet set economic growth targets independently. The ...

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Govt shoots down ‘friendship’ ties with IMF after 2018

Mark Assibey

Government has insisted it will not subscribe unto the Policy Sector Initiative (PSI) with the International Monetary Fund (IMF) after the deal expires in December 2018. The NPP argues that the fund’s intervention has least improved the economy. Former Finance Minister, Seth Terkper has suggested that Ghana signs onto the PSI to benefit from financial advice and support without a ...

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