Tag: IMF deal
-
IMF deal: Ghana stands ready to unlock second disbursement – Economist
Economist, Dr. Patrick Assuming is optimistic Ghana will be able to receive the second tranche of $600 million from the International Monetary Fund (IMF) after the review of the bailout programme later in September. A visiting team from the Fund is expected to arrive in Ghana to assess the country’s eligibility for the second disbursement.…
-
IMF proposes acquisition, mergers of banks to mitigate financial sector instability
The International Monetary Fund (IMF) is asking government to consider a possible acquisition and mergers of banks and other non-bank financial instructions as part of moves to mitigate the country’s financial sector shocks. Under its risk assessment matrix, the IMF in its latest country report in Ghana in said these proposals if adopted will among…
-
IMF deal positive signal for investor confidence, creditors – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has said that the country’s recent agreement with the International Monetary Fund (IMF) will help to restore confidence and reopen avenues that have been closed to the country in recent years. In a speech to the nation on Sunday night, Akufo-Addo said that the IMF deal will not spell the…
-
Joe Jackson cautions govt against immediate return to international market
Financial analysts are warning government to be extremely cautious in its quest to immediately go back to the capital market following the approval of the country’s deal with the International Monetary Fund (IMF). The warning comes after fresh hints by President Akufo-Addo that government has plans to borrow again from the market soon to fund…
-
IMF deal: Ghana now an attractive investment destination; investor confidence renewed – Ofori-Atta
Finance Minister, Ken Ofori-Atta says the approval of Ghana’s US$ 3billion bailout from the International Monetary Fund (IMF) signals an era of renewed investor confidence in the country’s economy. The Minister was reacting to the $300 million funding for African countries by the U.S. International Development Finance Corporation (DFC) which Ghana is a beneficiary. DFC…
-
IMF deal: We did a very diligent negotiation – Oppong Nkrumah
Information Minister, Kojo Oppong Nkrumah has slammed persons alleging that the $3 billion bailout deal secured from the International Monetary Fund (IMF) was poorly negotiated by Ghana’s representatives. Oppong Nkrumah said the people of Ghana and the government of Ghana have done a good job with regard to the negotiation of the programme. The Member…
-
Ghana’s US$ 3billion IMF deal [Full document]
Large external shocks in recent years have exacerbated Ghana’s pre-existing fiscal and debt vulnerabilities, resulting in a loss of international market access, increasingly constrained domestic financing, and reliance on monetary financing of the government. Decreasing international reserves, Cedi depreciation, rising inflation and plummeting domestic investor confidence, eventually triggered an acute crisis. It is on the…
-
IMF $3bn Bailout: Joe Jackson urges govt to avoid reckless borrowing
The Director of Business Operations at Dalex Finance, Joe Jackson, is urging the government to refrain from excessive borrowing following the International Monetary Fund’s (IMF) $3 billion bailout for Ghana. Joe Jackson emphasized the need for the government to take a retrospective look at the activities that led to the economic crisis. He stressed that…
-
Be fiscally responsible after IMF Board approval – Economist cautions govt
Economist, Dr. Patrick Asuming, is advising government to be more pragmatic in its fiscal policy direction post-bailout from the International Monetary Fund (IMF). His caution is on the back of financial assurances from the country’s external creditors and the anticipated International Monetary Fund board approval for Ghana. Speaking to Citi Business News, Dr. Patrick Asuming…
-
Massive challenges ahead if Ghana fails to secure IMF deal by May – Joe Jackson
The Director of Business Operations at Dalex Finance, Joe Jackson, says it’s a bad signal for Ghana’s reserves to be almost empty. According to the 2023 International Monetary Fund Regional Economic Outlook Report (Sub-Saharan Africa), Ghana’s net international reserves are expected to end in 2023 at approximately three weeks of import cover (0.8 months). Only…