Tag: IMF
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IMF boss Christine Lagarde visits Ghana on December 16
The Head of the IMF, Christine Lagarde is scheduled to visit Ghana ahead of the country’s completion of the program with the Fund. Miss Largarde’s trip to Ghana is scheduled for December 16 to 18, 2018. Deputy Information Minister, Pius Hadzide disclosed this at a media briefing on Wednesday [December 12, 2018]. According to him,…
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IMF reviews Ghana’s 2018 GDP down to 6.3%
The International Monetary Fund (IMF) has revised downwards its earlier 6.8 per cent Gross Domestic Product (GDP) projection for the Ghanaian economy in 2018 to 6.3 per cent. According to the Bretton Woods institution’s latest World Economic Outlook Report on World Economy and Financial Surveys, the economic growth will however be higher at 7.6 per…
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Oil prices drop after IMF’s review of global economic growth
Oil prices fell on Tuesday [October 10, 2018] following the IMF’s downward review of the global economic growth forecasts. Reuters however reports that markets were supported as Hurricane Michael closed nearly 40 percent of U.S. Gulf of Mexico oil output and U.S. sanctions restricted Iranian exports. The Fund reduced the global economic growth from 3.9…
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IMF cuts global economic growth target to 3.7%
The International Monetary Fund (IMF) has cut global growth projection to 3.7 per cent for this year [2018] and 2019. The Fund says the global economy’s growth target has dropped by 2 percent from the initial 3.9 percent. The Economic Counsellor and Director of Research Department at the IMF, Maurice Obstfeld disclosed the Fund’s new…
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IMF blames cedi’s woes on weak communication
The International Monetary Fund (IMF) has stated that the lack of effective communication by the government on foreign exchange policies, has partly contributed to the cedi’s depreciation. The Fund believes that the lack of clarity also made the public resort to speculations which impacted the local currency’s performance. A report issued by the IMF’s mission…
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Stop Chinese takeover with skilled labour – Dr. Gyimah
A Ghana-China expert, Dr. Glenn Gyimah believes the Government of Ghana can use the provision of skilled labour to benefit from its relationship with China. He noted the shortage and neglect of skilled labour has not only created room for the Chinese to take local jobs but also slowed the growth of Ghana’s manufacturing sector. “If we…
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IMF to prioritise Banking crisis, GDP growth in 7th review
As the International Monetary Fund (IMF) prepares for the seventh review of Ghana’s performance under the economic assistance program, some economists have outlined issues that are likely to top the discussions. Among them are the government’s efforts at maintaining fiscal discipline as well as controlling the public sector expenditure. The Fund is to meet the…
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Classify $2bn bauxite barter deal as a loan – Dr. Lord Mensah
Economist Dr. Lord Mensah has backed calls seeking that Ghana’s $2bn bauxite agreement with China, be classified as a loan. His view follows the Minority in Parliament’s move to petition the International Monetary Fund (IMF) on the matter. The side is seeking that the Fund determines to decide whether the 2 billion dollar Chinese deal…
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Only 47,000 out of 2m pay direct taxes in Kumasi – Adu Boahen
Although Kumasi in the Ashanti Region has about two million residents who engage in income-earning activities, only 47,000 of them pay direct taxes to the state. This was disclosed by a Deputy Minister of Finance, Charles Adu Boahen at Citi FM’s Economic Outlook programme held at the University of Ghana today, Thursday. “There’re a lot…
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IMF backs new revenue plans in midyear budget review
The International Monetary Fund (IMF) has urged that the government’s midyear budget review focuses on how the government intends to cater for the shortfall in revenue targets for the year. In what seems to be the Fund’s prior knowledge of the focus of the presentation next month, it has welcomed the government’s decision and says…