Tag: IMF
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Our negotiations with IMF progressing smoothly; ignore contrary claims – Gov’t
The Ministry of Finance has rejected claims that its negotiations with the International Monetary Fund (IMF) for a bailout have not been smooth as projected. A statement from the Ministry said such claims are untrue and should be disregarded. Some reports in the public domain say the negotiations are not going well because the Fund…
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Sacking Ofori-Atta not enough; size of gov’t must also be reduced – Bokpin
A lecturer of economics at the University of Ghana Business School, Prof. Godfred A. Bokpin has stressed that the demand for the removal of the Finance Minister, Ken Ofori-Atta isn’t enough to turn around the country’s economic woes. Some Members of the Majority Caucus in Parliament have joined in the demand calling for his head…
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Cabinet, EMT, banks and forex bureaus to meet over depreciating cedi – Oppong Nkrumah
Government has announced plans it says will help end the continuous depreciation of the Ghana cedi. Information Minister, Kojo Oppong Nkrumah says the Governor of the Central Bank, Dr. Ernest Addison will today, October 25, 2022, meet all CEOs of commercial banks and forex bureaus to address the issue. The cedi is currently selling at…
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Staff-level agreement to be reached on IMF negotiations by end of year – Finance Ministry
The Ministry of Finance says government and the International Monetary Fund (IMF) have reached a clear path towards the final details of a programme with the goal of reaching a Staff-Level Agreement by the end of the year. This follows meetings between the Government and the IMF advancing negotiations towards a Fund-supported Programme in Washington…
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We’ve identified specific policies to restore macroeconomic stability in Ghana – IMF
The International Monetary Fund (IMF) and government have identified specific policies to help stabilise the Ghanaian economy from its current predicament. This was disclosed in a statement by the Bretton Woods institution after its officials visited Ghana from 11th to 19th October 2022. The IMF team which was led by Stéphane Roudet met the Finance…
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Ken Ofori-Atta to preside over Ministerial dialogue of economies most vulnerable to climate change
Finance Minister, Ken Ofori-Atta of the Republic of Ghana will preside over the V20 Ministers of Finance Annual Dialogue IX this coming Sunday, 16 Oct 2022. The ministerial event, which is held every year alongside the World Bank-IMF Annual Meetings in Washington DC, will be attended by Finance Ministers from Africa, Asia, the Caribbean, Latin…
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IEA welcomes BoG’s endorsement of proposal to cap government borrowing
The Institute of Economic Affairs (IEA) has welcomed the Bank of Ghana’s endorsement of its proposal to cap government borrowing to help rein in the public debt. As part of his press briefing on Thursday, 6th October, 2022 on the decision of the Monetary Policy Committee, the Governor is reported to have said that he…
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Cedi depreciation likely to slow down – Dr. Patrick Asuming
The current rate of the Cedi’s depreciation is likely to slow down, if government is able to conclude its negotiations with IMF on time, as well as introduce effective policies in the upcoming 2023 budget reading next month. This is according to Economist Dr Patrick Asuming. A latest Bloomberg report has ranked the Ghana cedi…
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IMF allays fears of debt restructuring speculations
The International Monetary Fund (IMF) has allayed the fears of Ghanaians on the back of reports that discussions were set to begin on the restructuring of the country’s debt as part of plans to secure a US$3 billion loan from the Fund. The Bretton Woods Institution insists the restructuring of Ghana’s debt will be dependent…
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Don’t rely solely on IMF to solve your problems- Theo Acheampong to gov’t
An Economist and Political Risk Analyst, Dr. Theo Acheampong, has urged government not to bank all its hopes on the International Monetary Fund (IMF) in its quest to fix the struggling economy. A team from the IMF has begun the second round of discussions with government on a bailout, with a focus on debt sustainability.…