Tag: International Monetary Fund
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Economist sceptical about govt’s chances of securing IMF deal by end of year
Financial Economist, Prof Lord Mensah, is sceptical about government’s chances of tying down a bailout program with the International Monetary Fund (IMF) in the last quarter of this year. This comes after the Managing Director of IMF, Kristalina Georgieva, in a meeting with the President of Ghana recently assured that a deal between Ghana and…
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Ghana likely to secure US$3 billion from IMF for economic support
Government could obtain a loan of about US$3 billion from the International Monetary Fund as economic assistance. According to Bloomberg, the funding which will come in the form of balance of payment support will be spread within three years. A billion dollars is expected to come in immediately after the Fund approves an economic programme…
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Unprecedented global developments forced us to IMF – Ofori-Atta breaks silence
Unprecedented developments across the world forced the government to turn to the International Monetary Fund (IMF) for assistance, Finance Minister, Ken Ofori-Atta has said. In his first public remark after Ghana invited IMF to support it, Ofori-Atta said although the government had tried resisting the urge of signing up for an IMF bailout, Russia’s invasion…
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IMF team concludes visit to Ghana
After a week of intense negotiations with the Government of Ghana, officials of the International Monetary Fund, IMF, have concluded their visit to Ghana. The visit which formed part of the first stage of negotiations with government, was part of efforts to assess the current economic situation and discuss the broad lines of the government’s…
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‘IMF support will help revive our economy’ – Akufo-Addo
President Nana Akufo-Addo is confident the International Monetary Fund support government is seeking will help restore macroeconomic stability and revive the distressed economy. Nana Akufo-Addo says many countries across the world are suffering from an economic meltdown. Speaking at the swearing-in of some new Ambassadors and High Commissioners at the Jubilee House, Nana Akufo-Addo said…
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‘Seeking IMF bailout doesn’t mean e-levy has failed’ – Oppong Nkrumah
Minister for information Kojo Oppong Nkurmah has ruled out suggestions that the electronic transfer levy (e-levy) has failed and should be scrapped following the request for help from the International Monetary Fund (IMF). According to him, although government had earlier insisted that seeking a bailout from the International Monetary Fund was not an option, it…
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Gov’t to commence talks with IMF for bailout
Government is set to commence talks with the International Monetary Fund (IMF) for a bailout following severe challenges with Ghana’s economy. This was announced in a statement issued by the Information Ministry today, Friday, July 1, 2022. “The President of the Republic, Nana Addo Dankwa Akufo-Addo, has authorized Finance Minister Ken Ofori-Atta to commence formal…
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We are confident in homegrown recovery plan; IMF still not an option – Ofori-Atta
Finance Minister, Ken Ofori-Atta, has reiterated government’s stance on not seeking a bailout from the International Monetary Fund, IMF, despite the current economic challenges. Mr. Ofori-Atta says government will consider home-grown solutions to deal with the difficulties because the country has what it take to recover from the issues facing the economy. The government, despite…
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Ghana may not need the IMF if authorities take needed fiscal measures – Pierre Laporte
The World Bank Country Director for Ghana, Liberia, and Sierra Leone, Mr. Pierre Laporte, says Ghana stands to benefit from going to the International Monetary Fund (IMF) if the country plans on going on an aggressive debt rescheduling program. President Nana Akufo-Addo and the Minister of Finance Ken Ofori-Atta, have on multiple occasions shot down…
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Seth Terkper advises against e-levy; urges government to run to IMF
A former Finance Minister, Seth Terkper, is asking the government to heed to calls by stakeholders to return to the International Monetary Fund (IMF) to finance the country’s deficit instead of taxing Ghanaians through the electronic transfer levy. Mr. Terkper who has already registered his opposition to the idea of the e-levy, believes the government…