Tag: IMF
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We’re monitoring Ghana’s recovery; a program request has not been made – IMF
The International Monetary Fund (IMF) has indicated that Ghana is yet to request a financial program from the institution. This comes on the back of calls, by some stakeholders, for Ghana to seek a bailout from the IMF to address its current economic challenges. Despite harsh criticisms, the government continues to maintain that the most…
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‘We are not going to the IMF’ – Ofori-Atta insists amid push for E-levy
Finance Minister, Ken Ofori-Atta, says Ghana will not seek a bailout from the International Monetary Fund, IMF, despite the current economic challenges. Mr. Ofori-Atta says government will consider home-grown solutions to deal with the difficulties because the country has what it takes to turn its ailing economy around. Speaking at the third in a series of town…
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Ghana won’t return to IMF for financial support – Ofori-Atta reiterates
Finance Minister, Ken Ofori-Atta has downplayed reports that government is considering the option of returning to the International Monetary Fund, IMF, for some financial support to help stabilize the economy. Some economists and finance professionals have already predicted that the country will secure a program from the fund to help deal with the current revenue…
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Government confirms receipt of IMF’s $1 billion SDR cash to boost COVID-19 recovery
Ghana has received the equivalent of US$1 billion from the International Monetary Fund (IMF), being its share of the new Special Drawing Rights (SDRs) allocation to boost the post-COVID economic recovery of member countries. On 2nd August 2021, the IMF Board of Governors approved a general allocation of SDR456.5 billion, equivalent to US$650 billion out…
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Ghana’s economic outlook improving but with significant uncertainty – IMF
Despite Ghana’s gradual recovery from the COVID-19 shocks, the economy is still facing some significant uncertainty, including new pandemic waves and risks associated with large financing needs and increasing public debt. This is according to the concluding statement of the International Monetary Fund’s Executive Board following the end of Article IV Consultation with Ghana. According…
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‘It’s unfair to say Ghana has nothing to show for its programmes with IMF – Country Director
The Country Director for the International Monetary Fund (IMF), Dr. Albert Touna Mama, says it is unfair for anyone to suggest that Ghana has nothing to show for its many programmes with the IMF. According to him, the country cannot be said to have stagnated throughout its various programmes with the IMF as the fund…
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Economists back calls by IMF for reduction in Ghana’s rising debt
Some economists in have backed calls by the International Monetary Fund (IMF) for Ghana to take immediate steps to reduce the country’s debt and debt servicing burden. The International Monetary Fund Staff Mission to Ghana, in its concluding statement following a visit to the country from April 28 to May 12, 2021, for the 2021…
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IMF Staff Mission reiterates calls for measures to reduce Ghana’s debt
The International Monetary Fund (IMF) Staff Mission to Ghana, has charged government to without delay implement the needed measures that will lead to a reduction in government’s overall debt as well as its debt servicing burden. The remarks were contained in a statement by staff of the IMF at the end of an official visit…
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IMF commends Ghana for effectively managing COVID-19 pandemic
The International Monetary Fund (IMF), says Ghana has effectively managed the COVID-19 pandemic. The commendation was contained in a statement after a team led by Carlo Sdralevich paid an official visit to Ghana. The team had discussions with Vice President, Dr. Mahamudu Bawumia, Finance Minister, Ken Ofori-Atta, Governor of the Bank of Ghana, Ernest Addison,…
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Balance developmental spending and debt accumulation – IMF to Ghana Government
The International Monetary Fund (IMF) says it is more important now than ever, that Ghana balances its developmental spending needs against the rate of debt accumulation by the country. Ghana’s debt to GDP ratio crossed the dreaded 70% threshold back in September 2020 and is expected to hit 81.5% by the end of this year…