World Bank Country Director for Ghana, Liberia, and Sierra Leone, Robert Taliercio, has cautioned Ghana against making a premature return to international capital markets, warning that such a move could undermine the country’s recent economic recovery. Speaking at the launch of the World Bank’s latest Public Finance Review report, titled “Building the Foundations for a Resilient […]
President-elect John Dramani Mahama has pledged to review and adjust Ghana’s existing agreements with development partners to align with the country’s current needs and aspirations. Speaking during a courtesy call by the United Nations Resident Coordinator, Charles Abani, Mr Mahama emphasised the importance of creating partnerships that reflected the realities of today and the vision […]
The International Monetary Fund (IMF) Executive Board has completed the third review of Ghana’s 36-month, $3 billion Extended Credit Facility (ECF) program, initially approved in May 2023. The review’s conclusion paves the way for an immediate disbursement of Special Drawing Rights (SDR) 269.1 million (approximately $360 million), bringing total disbursements under the program to around […]
The IMF projects that Ghana will end 2024 with a growth rate of 3%, according to the World Economic Outlook Report released in Washington, D.C., on Tuesday during the IMF/World Bank meetings. This aligns with the Government of Ghana’s forecast of a 3.1% GDP growth rate as stated in the 2024 Budget. IMF’s Growth Projections […]
Ghana is expected to get a debt relief of $7.2 billion between 2023 and 2026 as it concludes debt restructuring deals with its bilateral creditors and Eurobond holders. Following the formalisation of the country’s agreement with the Official Bilateral Committee co-chaired by France and China, Ghana will now save $2.8 billion which it would have […]
A new report by the International Monetary Fund (IMF) has revealed that Ghana is among the emerging market economies most prepared to adopt Artificial Intelligence (AI). On Tuesday, the IMF released its AI Preparedness Index (AIPI), which maps the world’s readiness for AI and evaluates the level of AI preparedness in 174 countries. The AIPI […]
Finance Minister, Dr. Mohammed Amin Adam, has announced that the country’s economy is undergoing a robust rebound after enduring significant challenges over the past two years. He noted that all key indicators are trending positively and are expected to improve further. Speaking at a UK Town Hall meeting on Saturday, June 22, Dr Amin Adam […]
The Minister of Finance, Dr Mohammed Amin Adam, has urged Ghanaians to continue to support the government as it implements the three-year extended credit facility (ECF) programme with the International Monetary Fund (IMF). He said the economy was on a good course, and that he was confident that things would get better in the coming […]
Ghana is close to signing a Memorandum of Understanding (MoU) with bilateral creditors as part of the restructuring of debts owed to these lenders. The Managing Director of the International Monetary Fund (IMF) Kristaline Georgieva revealed that “Ghana is in a good place now because it has advanced negotiations with the bilateral creditors on restructuring […]
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has urged managers of the economy to stay the course after achieving “many good indicators in this short period of time” in the country’s programme with the fund. “Your growth is better than expected, your inflation is lower than expected, the progress in debt […]
The International Monetary Fund (IMF) is predicting a 15% end-of-year inflation in 2024. It is also forecasting an 8.0% end-of-year inflation in 2025, 2026 and 2027. This means that the increasing prices of goods and services will slow down this year and drastically in the next three years. The revelation was captured in the Fund’s […]
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has stated that Ghana’s economic policies under its programme are beginning to yield the desired outcomes. She emphasised that the policy and reform commitments outlined in Ghana’s deal with the Bretton Woods Institution are in the best interest of the Ghanaian people. In a […]
