Tag: IMF
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IMF praises Ghana’s structurally comprehensive programme
While speaking at a joint press conference between the Government of Ghana and officials of the IMF, the IMF mission chief for Ghana, Stephane Roudet highlighted the extensive structural components of Ghana’s program with the Fund, emphasizing its richness and capacity to strengthen the country’s economy. Mr. Roudet stated, “it is important to emphasize that…
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Gov’t won’t rush to return to capital market – Ofori-Atta
Finance Minister, Ken Ofori-Atta has emphasized the country’s commitment to fiscal responsibility, stating that Ghana will not hastily seek to return to the international capital market for borrowing. Speaking at a press conference on Thursday (May 18), Ofori-Atta highlighted the importance of revenue measures and prudent expenditure management in ensuring financial stability and sustainability. He…
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IMF bailout: Bank of Ghana Act to be revised
Ghana’s International Monetary Fund (IMF) programme will among other things revise the Bank of Ghana Act in a bid to strengthen the central bank’s independence and mitigate fiscal dominance. The amendments to the BoG Act will feature a stricter limit for monetary financing, mechanisms to monitor and enforce compliance, and a clear definition of emergency…
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This is what the IMF said after approving Ghana’s $3bn bailout request
The Executive Board of the International Monetary Fund (IMF) has approved Ghana’s $3 billion bailout request, aimed at reviving the country’s crippling economy. The decision was made during the Executive Board’s meeting held on Wednesday, following Ghana’s receipt of financing assurances from the Paris Club. A statement by the IMF indicated that the “Executive Board…
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IMF board approves Ghana’s $3bn bailout to revive ailing economy
The International Monetary Fund’s executive board has approved a $3 billion, three-year extended credit facility for Ghana, three senior Ghanaian officials said on Wednesday, as the West African country tries to overcome its worst economic crisis in a generation. Two other sources familiar with the process said the IMF agreement marked an important step forward…
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BoG’s MPC commences assessment of economy today
The Monetary Policy Committee (MPC) of the Bank of Ghana will today commence its regular meetings to review developments in the economy. This meeting which is the 112th, will end with a press conference on Monday, 22nd May, 2023. The meeting will also end with a decision on the appropriate positioning of the Central Bank’s…
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Cedi to appreciate further after IMF Board approval – Courage Boti
Analysts are still anticipating further gains of the cedi should Ghana secure board approval from the International Monetary Fund (IMF), as expected. There have been strong predictions that Ghana’s currency will see more strengthening on the forex market as the country prepares for the first loan tranche of US$600m from the IMF in the next…
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IMF deal: Prof. Gatsi doubts approval of first tranche on Wednesday
Economist Prof. John Gatsi, is doubtful that Ghana would get approval for its first loan tranche of US$600 million from the International Monetary Fund (IMF) by Wednesday, May 17. The government has stated that the first tranche of the US$ 3 billion bailout will hit the account of the Bank of Ghana later this week.…
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IMF deal: Ghana will return to international capital market soon – Govt
The government is optimistic that Ghana will be able to return to the international capital market as soon as possible. Ghana is on the verge of securing a US$ 3 billion IMF bailout to help with the country’s balance of payment problems, with the first tranche of US$600m expected to be authorized by Wednesday and…
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IMF likely to approve first $600m tranche for Ghana by Wednesday
Ghana expects the International Monetary Fund to approve a first loan tranche of $600 million as soon as Wednesday, paving the way for disbursement within a week, Minister of State in the Finance Ministry Mohammed Amin Adam told Reuters on Sunday. Ghana is seeking $3 billion from the Fund to shore up its battered economy.…