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 […]
The International Monetary Fund (IMF) has given thumbs up to the country’s recovery, saying growth this year has proved more resilient than initially anticipated. “Although all the challenges are not going to be solved overnight, and there is still a lot of work ahead, what makes us very optimistic is that these actions are already […]
The International Monetary Fund (IMF) has addressed the concerns surrounding the Bank of Ghana’s (BoG) GH¢60 billion loss incurred during the 2022 fiscal year, aiming to allay anxieties by asserting that there is no need for alarm. The BoG has faced heightened scrutiny from opposition political factions and civil society organizations due to the substantial […]
Governor of the Bank of Ghana (BoG), Dr. Ernest Kwamina Yedu Addison, has revealed that the first tranche of $600 million from the International Monetary Fund’s $3 billion credit facility, will hit the bank’s account on Friday, May 19, 2023. Speaking at the IMF and the Finance Ministry’s joint press conference on Thursday, he said […]
The first tranche of $600 million out of the $3billion IMF programme will hit the accounts of the Bank of Ghana tomorrow, May 19, 2023, the Governor of the Bank of Ghana (BoG), Dr Ernest Addison has confirmed. The Governor noted that the money would boost the country’s reserves and the Cedi which is already […]
Ghana’s currency, the cedi, has emerged as the top-performing currency against the US dollar in the past six months, bolstered by investor optimism that the country is on the verge of obtaining approval from the International Monetary Fund (IMF) for a $3 billion bailout. Since November, the cedi has gained an impressive 33%, outpacing around […]
THE International Monetary Fund (IMF) has revised Ghana’s growth downwards in line with concerns that debt pressures and funding constraints would make it difficult for African economies to expand at full potential this year. The fund cut the country’s growth forecast to 1.6 per cent for 2023 this month, down from 2.8 per cent in […]
The Paris Club, a group of bilateral creditors that helps with workable solutions to payment problems faced by debtor nations, will form an Official Creditor Committee this week to look into Ghana’s request for financial assurances. The assurances, which come with debt restructuring and further strategic lending, will enable the country to present its programme […]
The International Monetary Fund (IMF) has doubled down on its plea to wealthier nations to support Ghana and other weaker economies to help such countries extricate themselves from the shackles of debt. The call also comes at a time when the fund has seen a $1. 6 billion shortfall in its funding in the face […]
