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    Ghana’s total exports decline by 9%

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    Financial sector withstood 2022 shocks; positive signs ahead – BoG

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    Ghana’s total exports decline by 9%

    Cedi depreciates against the dollar by 22.5%

    Financial sector withstood 2022 shocks; positive signs ahead – BoG

    Water shortage to hit parts of Accra; businesses to be affected

    Excise tax amendment shows positive signs; rakes in GHS 140m 

    Ghana records over $200m trade surplus in two months

    Public debt hits GHS 575.5 billion; now 71.9% of GDP

    GEPA poised to achieve over $4bn target for non-traditional exports

    GRA fights off claims of harassing traders; calls for cooperation

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    Cedi depreciates against the dollar by 22.5%

    Financial sector withstood 2022 shocks; positive signs ahead – BoG

    Water shortage to hit parts of Accra; businesses to be affected

    Influx of Chinese tanker trucks will kill local businesses – Kwame Jantuah

    GRA fights off claims of harassing traders; calls for cooperation

    Hanno Barkhoff joins Kempinski Hotel Gold Coast City Accra as General Manager

    WTO Director-General calls for ratification of Fisheries Subsidies Agreement

    B5 Plus is an iconic testament of success of 1D1F initiative – K.T. Hammond

    BoG advised me to streamline Menzgold operations – NAM 1

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    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

    Cyber hygiene key for public safety – Dr. Albert Antwi Boasiako

    Ban on cryptocurrency still in force – Finance Ministry warns

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    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

    Nine ventures announced for Africa Money and DeFi Summit investment showcase

    African Union to launch regional credit rating agency in 2024

    New study reveals alarming food access disparity affecting 650 million Africans

    Global food price index declines in August

    ECO currency challenges: Technical committee attributes delays to external shocks, others

    African leaders emphasize in-continent processing of mineral wealth at climate summit

    Indian investors commit $14 billion to Nigeria, to strengthen several Nigerian sectors

    African Development Bank announces $25 billion pledge to boost climate finance in Africa

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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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