The Minister of Finance,Seth Terkper, is leading a government delegation to the IMF/World Bank Spring Meetings in Washington DC.
[contextly_sidebar id=”NDJ2hlt1TKny4v8S912vdiuqEPUsGZ5a”]The meetings will involve discussions on the progress of work of the World Bank and the International Monetary Fund (IMF).
The delegation is made up of officials from the Bank of Ghana, the Chairman of the Finance Committee in Parliament and officers from the Finance Ministry.
The delegation will also meet with the World Bank Vice President for Africa and IMF Deputy Managing Director.
The delegation will attend the World Bank Group Africa Conference on ‘unlocking the potential of Agri-business in Africa through trade facilitation, minimum infrastructure platform (power supply and e-commerce) and also meet with the US State Department Deputy Assistant Secretary of State for International Finance and Development.
The team will also participate in seminars and forums such as the Fiscal Forum on Strengthening the International Tax System; High Level Dialogue on Fiscal Transparency; International Development Association Forum; Infrastructure Forum 2016; Forum on Girl Child Education; Seminar on the Africa Climate Business Plan and a seminar on State of the Africa Region.
Ghana is currently in a three-year extended credit facility arrangement with the IMF for US$918 million.
The facility which was approved on April 3, 2015, is expected to restore debt sustainability and macroeconomic stability in the country to foster a return to high growth and job creation, while protecting social spending.
Meanwhile a latest report released by the World Bank has shown that growth for sub-Saharan Africa declined from 4.5 % to 3% in 2014 and 2015 respectively.
The bank cited the declining global prices of commodities particularly oil, which fell by 67 percent from June 2014 to December 2015 and weak economic growth, especially in emerging market economies, as the reasons for the region’s uninspiring performance.
By: Pius Amihere Eduku/citibusinessnews.com/Ghana