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    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

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    E-cedi will not affect MoMo business – Bank of Ghana

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    BoG to hold emergency MPC meeting on Wednesday

    BoG, EOCO deepen collaboration to build robust financial sector

    Recent downgrades by S&P, Fitch ratings on Ghana unfair – African Peer Review Mechanism

    Private sector critical to renewable energy target – Sector Ministry

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Gov’t must invest more resources into agriculture sector – Agribusiness Chamber

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

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    BoG, EOCO deepen collaboration to build robust financial sector

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Coronation Insurance launches marine insurance e-portal for importers

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

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    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

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    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

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IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

byBobbie Osei
July 5, 2022
in Business, News, Top Stories
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Ahead of the commencement of in-person meetings between the Government of Ghana and the delegation from the International Monetary Fund on Wednesday 6th July 2022, the Director of the Institute for Statistical, Social and Economic Research (ISSER) at the University of Ghana, Professor Peter Quartey believes the Fund will reject any program that will see government subsidizing some of its flagship programs.

While government has assured Ghanaians that its negotiations with the International Monetary Fund will be in the best interest of Ghanaians, some fear flagship programs such as the Free SHS as well as public sector employment will be sacrificed for the IMF bailout.

While a delegation from the IMF is expected in the country on July 5, 2022, government is set to meet with the team on Wednesday, July 6, 2022.

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Sharing his view ahead of the upcoming face-to-face meeting, Prof. Quartey urged government to prioritise the creation of an enabling environment for businesses, among others, to ensure they get the buy-in of the IMF team.

“I believe the IMF is not in support of any planted subsidies. They would like you to provide the enabling environment for key industries and sectors to thrive. So whatever you can do to provide the enabling environment, I believe they would support that. But to say you are going to subsidize agriculture or manufacturing wholesale when you don’t have the resources, I don’t think you can do that.”

“So where there has to be an enabling environment for the sector to thrive they will indeed support us, given that we have the resources, otherwise they will not,” he added.

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