Tag: IMF
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The top 20 economies of the world as at October 2019
The different phases of economic cycles toss economies around the world. However, it’s interesting to see that these top economies don’t budge easily from the positions they hold. When compared to the top 20 economies of 1980, 17 are still present on the list, which means only three new entrants. In addition to the key…
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Christine Lagarde quits as head of IMF
Christine Lagarde has said she will step down as managing director of the International Monetary Fund (IMF). It comes ahead of a decision on her nomination to become head of the European Central Bank (ECB). Ms Lagarde said she would leave the IMF on 12 September. “With greater clarity now on the process for my…
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IMF warns of giant tech firms’ dominance
Giant technology companies might cause significant disruption to the world’s financial system, the head of the International Monetary Fund has warned. Christine Lagarde said just a few firms with big data access and artificial intelligence could run the global payment and settlement arrangements. Her warning came as the G20 finance ministers met in Japan. The…
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Minority opposes IMF’s calls to reduce producer price of cocoa
The Minority in Parliament has called on the government to ignore calls from the International Monetary Fund (IMF) to reduce the producer price of cocoa from the current GH¢7,600 per tonne. According to the IMF, it has become critical for government to reduce the producer price of cocoa to ensure that the Ghana Cocoa Board…
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Growth must reflect in livelihoods of Ghanaians – IMF to gov’t
The International Monetary Fund (IMF) has advised the government of Ghana to ensure that the country’s expected economic growth translates into an improvement in the livelihoods of the citizenry. The Fund maintains that this could be achieved if the government ties its policies and programs with the aim of solving issues such as unemployment. The…
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IMF cuts Sub-Saharan Africa’s 2019 growth forecast to 3.5 percent
The International Monetary Fund cut its 2019 economic growth projection for sub-Saharan Africa this year to 3.5 percent, from 3.8 percent set last October, hot on the heels of a downgrade by the World Bank earlier in the week. The new forecast reflects downward revisions for Angola and Nigeria with a softening in oil prices,…
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BoG didn’t pump money into economy to stabilize cedi – Bawumia
The Bank of Ghana did not inject $800m into the country’s international reserves in order to stabilize the cedi when it sharply depreciated against its major trading currencies in March 2019. This is according to the Vice President, Dr. Mahamudu Bawumia. Dr. Bawumia, who is also the chairman of the government’s Economic Management Team while…
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Ghana exits IMF programme – Bawumia
Ghana has officially exited the International Monetary Fund (IMF) programme. The Vice President, Mohamadu Bawumia said Ghana officially exited the IMF’s extended credit facility arrangement on Tuesday, April 2, 2019. “…It was only yesterday [Tuesday] that Ghana formally and successfully completed the IMF programme that we inherited in 2017,” he said at a townhall meeting…
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IMF’s Christine Lagarde starts two day visit to Ghana
The Head of the IMF, Christine Lagarde is in Ghana for a two day visit. Her coming is ahead of the nation’s exit from the Fund by the end of this year. Madam Christine Lagarde’s visit is viewed by some analysts as symbolic as it may signify the Fund’s impression with Ghana’s overall performance under…