President Nana Addo Dankwa Akufo-Addo has hailed the country’s ongoing programme with the International Monetary Fund (IMF), describing its progress as highly successful. The President also points out that, the economy has performed better than initially projected under the programme – which is indicative of a stronger recovery trajectory. SpeakingContinue Reading
The International Monetary Fund (IMF) has urged the Bank of Ghana (BoG) to maintain a tight monetary policy stance given upside risks to inflation while doing more to advance the Fund’s advice on safeguards. According to the Fund, a tight policy stance, supported by robust liquidity absorption operations, is warrantedContinue Reading
Ghana’s 2023 external position was moderately stronger than the level implied by fundamentals and desirable policies. Against the backdrop of fiscal consolidation, the International Monetary Fund said strong gold exports, deferred external interest payments and high remittances the Cumulative Assessment narrowed noticeably. “Strong reserve accumulation through the gold-for-reserves program ledContinue Reading
The International Monetary Fund has revealed in its Third Review of the Economic Credit Facility programme that the energy sector is a major source of fiscal risk in Ghana, According to the Fund, the sector had an estimated stock of arrears (“legacy debt”) of US$2.1 billion or 2.8% of GrossContinue Reading
Beyond 2024, Ghana’s Gross Domestic Product (GDP) growth is projected to gradually increase to its potential level of about 5.0%. This is consistent with many forecasts by international research institutions. According to the International Monetary Fund (IMF) Country Report on Ghana, the macroeconomic outlook remains positive. Notwithstanding headwinds from theContinue Reading
The government has admitted that the parliamentary impasse has stalled the disbursement of $300 million in World Bank funding for Ghana.Tourism packages This amount is part of a larger financial support package from the World Bank aimed at stabilising the economy, financing critical sectors, and addressing fiscal deficits. However, theContinue Reading