Tag: IMF
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IMF staff conclude visit to Ghana, acknowledge signs of economic stability
A team of experts from the International Monetary Fund (IMF), led by Stéphane Roudet, recently concluded their visit to Ghana, which took place from June 8 to June 15, 2023. The visit aimed to engage with Ghanaian authorities and stakeholders to assess recent economic developments and review the implementation of the Fund-supported program approved on…
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Let’s remain optimistic – Otuo Siriboe to Ghanaians
Chairman of the Council of State, Nana Otuo Siriboe II has called upon Ghanaians to maintain a sense of optimism in light of the country’s renewed growth trajectory, supported by the recently approved International Monetary Fund (IMF) Programme. “There is light ahead for Ghana. We must remain optimistic and steadfast in our belief that our…
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Restructure Ghana’s finances to wean it off IMF – Pianim
Renowned economist, Kwame Pianim is advocating for the country to restructure its finances and organizations to enable it to develop steadily. He believes this will enable the country to wean itself from dependence on institutions such as the International Monetary Fund (IMF). Pianim made the comment while highlighting the importance of investing in peace in…
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Ghana is the best destination for investment in West Africa – Bawumia
The Vice President, Dr. Mahamudu Bawumia, has stated that despite the existing economic challenges, Ghana remains the most favourable investment destination in the West African Sub-region. In his opinion, the $3 billion support received from the International Monetary Fund (IMF) will contribute to the stabilization of the Ghanaian economy. Dr. Bawumia expressed confidence that investors…
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Ghana’s energy sector needs audit to ascertain debt levels – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) is calling for a full-scale audit to be launched into Ghana’s power and energy sector to ascertain the country’s current debt level of the sector. This comes at a time when the Public Utility Regulatory Commission (PURC) has increased electricity tariff by 18.3 per cent and has since…
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We are confident of meeting IMF conditions for fiscal consolidation – Ofori – Atta
Government has stated that it is certain of meeting the International Monetary Fund’s (IMF) requirements for fiscal consolidation in its quest to ensure economic recovery. The IMF, in its report on Ghana’s request for a $3 billion dollar extended credit facility, attributed Ghana’s economic challenges to weak domestic revenue mobilization efforts. The Fund also said…
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IEA casts doubt on robustness of Ghana’s IMF programme
The Institute of Economic Affairs has described the Extended Credit Facility IMF bailout offered Ghana as a “straitjacket” programme which has rendered the managers of the nation’s economy with limited innovative economic ideas to turn the ailing economy around. Ghana received the first tranche of the IMF cash on Friday, May 19 after successfully embarking…
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We’re ready to provide liquidity support to banks – BoG reiterates
The Bank of Ghana has reiterated that it stands ready to provide emergency liquidity support for banks in the country in line with their rules for liquidity assistance. According to the Central Bank, though no bank in the country has applied for liquidity support from the central bank currently, it has put in place measures…
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Ghana will soon return to international market to borrow – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has revealed plans to return to the International market to borrow to fund infrastructural projects following the successful completion of Ghana’s $3 billion deal with the International Monetary Fund. Speaking at the Qatar-Africa Economic Forum in Doha, Mr. AKufo-Addo said even though his government is in no rush to return…
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IMF Deal: We’ll begin rigorous expenditure cuts – Akufo-Addo
President Nana Akufo-Addo has disclosed that his government will begin rigorous expenditure cuts to meet the conditionalities attached to the $3 billion bailout by the International Monetary Fund (IMF). Mr. Akufo-Addo said his government is eager to turn the fortunes of the country around and will do everything possible to ensure that the ailing economy…