Tag: IMF
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Govt to end IMF deal in April 2018 – Ken Ofori-Atta
Finance Minister, Ken Ofori-Atta has disclosed that the government is committed to ending its agreement with the IMF in April 2018. This according to him has made it necessary for the government to consider alternatives in addressing deficits and maintain a sound economy for businesses to thrive. The comment by Mr. Ken Ofori-Atta is a…
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IMF Article 4 survey predicts positive growth for Ghana
The International Monetary Fund (IMF) has projected a more promising economic prospect for Ghana’s economy for the rest of 2017. According to the fund, the increased oil production, declining inflation, plus other economic indicators are expected to inch Ghana’s economy towards achieving an end of year growth target of about 6 percent. “Economic prospects in 2017…
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IMF extension likely to affect disbursements
Ghana risks a likely delay in the disbursement of funds from the International Monetary Fund from this year, following plans to extend the deal. This is the caution from Economist, Dr. Eric Osei Assibey. According to him, the Fund will grant the request upon satisfying itself of the government’s ability to meet set targets. “I…
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IMF to get tough over GH¢7bn expenditure gap – Economist
Ghana risks being penalised by the IMF over the unaccounted 7 billion cedis in government’s accounts. This is the assertion of Economist, Dr. Lord Mensah. The caution follows the visit by a team from the IMF for a review of the deal. “Well, there’s a possibility that IMF will sanction our country because look at…
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IMF review to determine deficit financing options
The Bank of Ghana has told Citi Business News it will strictly abide by any agreement reached by the government and the International Monetary Fund (IMF) on the financing of government’s budget deficit. It follows a review of the extended credit facility by the IMF and government, in February. Governor Dr. Abdul Nashiru Issahaku believes…
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IFS cautions against terminating IMF deal
The Institute for Fiscal Studies (IFS), has cautioned of massive cuts in foreign aid and grants should government terminate the agreement with the International Monetary Fund, IMF. According to the Institute, Ghana’s stay with the IMF program has sustained support from some donor agencies. “Complete termination is not advisable because most of our development partners…
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New gov’t must renegotiate IMF deal – Economist
The incoming government led by President elect Nana Akufo Addo is likely to renegotiate Ghana’s deal with the International Monetary Fund (IMF) in a bid to stabilize the economy. This is the assertion from some economists. According to them, renegotiating aspects of the IMF deal will save the country from further increase in its debts.…
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Economist downplays effect of pay rise on IMF deal
A Labour Economist, Dr. William Baah Boateng has shot down any significant impact on Ghana’s commitment with the International Monetary Fund (IMF), over an increase in public sector wages. According to him, the decision may have taken into consideration government’s commitment to maintain high fiscal discipline under the economic assistance program with the IMF. “At…
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3rd IMF tranche: Ghana presents data on energy sector
Government has disclosed it is working to present data on the country’s energy sector to the International Monetary Fund (IMF) which should lead to the release of the third tranche of the bailout funds. According to the Finance Ministry, the information has become necessary as the Fund considers the power sector as one of the…