Tag: International Monetary Fund
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IMF awaits Ghana’s agreement with bilateral creditors before releasing next tranche of $3bn bailout
The International Monetary Fund (IMF) says it is waiting for the outcome of Ghana’s engagement with its bilateral creditors before releasing the next tranche of the $3 billion bailout package. This was disclosed by the IMF Managing Director, Kristalina Georgieva, in a tweet on Wednesday after meeting Ghanaian officials to discuss the way forward. Ghana…
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IMF bailout: Quickly agree on debt relief terms – Ofori-Atta begs bilateral creditors
The Ministry of Finance has appealed to its bilateral creditors to quickly agree on the debt relief terms to help Ghana secure the second tranche of the $3 billion International Monetary Fund (IMF) bailout package. He expressed appreciation to the IMF for giving Ghana the needed support in its quest to help the economy turn…
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IMF Reaches Staff-Level Agreement on Economic Policies and Reforms with Ghana
The International Monetary Fund (IMF) staff, led by Mr. Stéphane Roudet, Mission Chief for Ghana, has successfully reached a staff-level agreement with Ghanaian authorities. This is a step towards concluding the first review of Ghana’s 36-month Extended Credit Facility (ECF)-supported program. The performance in meeting the program’s targets and reform objectives, according to IMF staff,…
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IMF reaches $3bn agreement with Ghana
The International Monetary Fund (IMF) has reached a staff-level agreement with Ghana on economic policies and reforms to be supported by a new three-year arrangement under the Extended Credit Facility (ECF) of about US$3 billion. According to the IMF, the authorities’ strong reform program aimed at restoring macroeconomic stability and debt sustainability while protecting the…
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IMF assures of restored macroeconomic stability in Ghana
The International Monetary Fund (IMF) has assured Ghanaians it will assist government to restore macroeconomic stability, spur growth and bring the much needed relief to them. A statement issued by the Fund’s mission chief for Ghana, Stéphane Roudet prior to the visit of the staff team to Accra said, “the IMF remains fully committed to…
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IMF paints gloomy picture for banks in 2023
The International Monetary Fund is predicting a gloomy picture for the banking sector in developing countries including Ghana in the coming year if global economic conditions do not improve. This was captured in the latest Global Financial Stability Report released by the IMF. The Government of Ghana embarked on a clean-up exercise of the banking…
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Economist optimistic IMF bailout program will boost investor confidence
The Director of the Institute of Statistical, Social and Economic Research at the University of Ghana, Prof. Peter Quartey is optimistic that the interest being shown by the International Monetary Fund (IMF) to save Ghana’s economy will boost investor confidence in the country. The Ministry of Finance on Monday confirmed that its officials and of…
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Finance Ministry, BoG begin debt sustainability analysis with IMF
The Ministry of Finance has confirmed that its officials and that of the Bank of Ghana have commenced a comprehensive debt sustainability analysis with the International Monetary Fund (IMF) for a US$3 billion support programme. A statement from the Ministry said “the Government of Ghana is putting together a comprehensive post-Covid-19 economic programme which will…
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BoG postpones routine MPC meeting over IMF team visit
The Bank of Ghana’s (BoG) Monetary Policy Committee (MPC) will not be holding its routine quarterly meeting today, Monday, September 26, 2022, as scheduled. A statement from the Central Bank last Thursday said the rescheduled meeting will now coincide with Government’s next round of engagements with the International Monetary Fund (IMF). The Fund is scheduled…