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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

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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

    Farmers worried about possible unfair distribution of MoFA machines

    Coronation Insurance launches marine insurance e-portal for importers

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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.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    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

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

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IMF team arrives in Ghana on Tuesday ahead of Wednesday’s bailout talks

byBenjamin Aklama
July 4, 2022
in Government, News, Top Stories
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A team from the International Monetary Fund (IMF) is set to arrive in Ghana on Tuesday, July 5, 2022, ahead of a discussion with the government of Ghana on a bail-out request made to the fund.

President Nana Akufo-Addo on Friday, July 1, 2022, directed the Finance Minister, Ken Ofori-Atta, to commence engagements with the Bretton Woods institution on a possible economic bail-out.

The Ministry of Information, in a statement announcing the President’s directive, said the Minister for Finance, Ken Ofori-Atta will be leading the negotiations with the IMF in the coming days.

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The news has been received with mixed feelings. The Government of President Akufo-Addo initially condemned the IMF on several platforms, vowing never to seek any form of support from the fund.

A statement from the Ministry of Finance noted that: “a delegation from the Fund is scheduled to arrive in Accra on Tuesday 5th July 2022, to commence in-person meetings with the Government of Ghana on Wednesday 6th July 2022.”

“The Ministry further takes this opportunity to assure Ghanaians of the Government’s commitment to successfully negotiate a program with the IMF in the coming months, in support of Ghana’s economic recovery,” the statement issued by the Public Relations unit of the Finance Ministry added.

Labour unions including TUC have lambasted the government for its decision to seek support from the fund.

They said government resorting to the IMF means the economy will likely reel under several restrictions and controls to be imposed by the fund.

Civil society organisations also expressed their displeasure at the government’s request for a bail-out from the IMF. They corroborated the concerns of TUC saying the economic hardship being endured by the people of government will get worse with IMF restrictions.

Meanwhile, the IMF’s social media platforms have been inundated with comments from Ghanaian netizens warning the fund against bailing the Ghanaian government out unless enough fiscal disciplinary measures are put in place.

The IMF team will consist of senior officials from the Fund as well as local staff based here in Ghana.

Analysts suggest that it would take at least three months for a programme to be agreed upon between the parties.

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BoG, EOCO deepen collaboration to build robust financial sector

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

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

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