Tag: International Monetary Fund
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IMF warns government against collateralised borrowing
The International Monetary Fund (IMF), is warning the government to avoid collateralized borrowing as a means of reducing the mounting public debt. The Executive Board of the Fund after the conclusion of its Article IV Consultation with Ghana expressed concern about Ghana’s high risk of debt distress and highlighted the need to strengthen the fiscal…
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IMF calls for “tight” budget ahead of 2020 elections
The International Monetary Fund (IMF) is cautioning Ghana to be mindful of its public spending ahead of next year’s general elections in order not to undo the macroeconomic gains made in the aftermath of the IMF bailout program. The Fund in a statement issued after its routine assessment of the country’s economy asked the government…
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BoG Governor Dr. Addison appointed IMF/World Bank Board Chair
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has been selected to represent Ghana to Chair the Board of Governors of the Bretton Woods Institutions in 2020. A statement from the central bank explained that the selection of Ghana was done in recognition of the country’s impressive strides in macroeconomic stability achieved…
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IMF predicts slower economic growth for Ghana
The International Monetary Fund (IMF) has said Ghana’s economy will grow at a slower rate than it had earlier predicted. The Washington-based lender in its latest World Economic Outlook predicted that Ghana’s economy will grow at a rate of 7.5 percent revising an earlier prediction of 8.8 percent it made in April. Ghana which exports…
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IMF warns world growth slowest since financial crisis
The global economy is growing at its slowest pace since the financial crisis, the International Monetary Fund (IMF) has said. The fund said world growth would hit just 3% this year – down from its July forecast of 3.2% and a sharp slowdown from just two years ago. The IMF blamed the slowdown on trade…