Business
IMF to disburse US$360m third tranche to Ghana without creditors MoU
Mr Abebe Aemro Selassie, Director, African Department, International Monetary Fund (IMF), says Ghana will receive its next funding support from the IMF even if it is unable to sign a final debt pact with its official bilateral creditors. This means that the country would receive its third tranche of US$360 million when the IMF Board […]
Business
IMF deal: No further adjustments required from Ghana – Abebe Selassie
Abebe Selassie, Director of the African Department at the International Monetary Fund (IMF), has stated that the fund will not require the Ghanaian government to implement additional adjustments. He expressed optimism that ongoing discussions among official creditors will facilitate the conclusion of talks, enabling the release of the third tranche of funds. Abebe Selassie emphasized […]
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Artificial Intelligence likely to affect 40% of global workforce – IMF
The International Monetary Fund (IMF) has predicted that 40 percent of the global workforce will be affected by the introduction of Artificial Intelligence. According to the IMF, though AI has improved productivity, it is likely to render many jobless in the coming years. Speaking to journalists on the sidelines of the 2024 IMF-World Bank Spring […]
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Any govt depending on IMF is likely to fail – Grand Coalition
Rev. Dr. Samuel Worlanyo, an economist and spokesperson of the Grand Coalition, has warned about the potential collapse of Ghana’s economy if it continues to heavily rely on borrowing from financial institutions such as the International Monetary Fund (IMF). In acknowledging the necessity of borrowing for governmental initiatives and projects, Dr. Worlanyo stressed the critical […]
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Jomoro MP reshapes Ankasa Forest Reserve road
The Ankasa Forest Reserve road in the Jomoro Constituency of the Western Region is receiving a reshaping by the Member of Parliament, Dorcas Affo-Toffey. The eight-kilometer road has not seen any coal tar since construction several decades ago. The reshaping of the road would serve nearby communities such as Amokwawsuazo, Fire, “Odo y3 f3“, Paradise […]
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Business
Ghana’s medium-term macroeconomic outlook positive – Amin Adam
The Minister of Finance, Dr Mohammed Amin Adam, has reaffirmed that Ghana’s medium-term macroeconomic outlook and prospects remain positive and promising. He also highlighted the government’s dedication to implementing comprehensive structural reforms to bolster growth and enhance revenue mobilisation. Speaking during a joint press conference by the government of Ghana and the International Monetary Fund […]
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We won’t overburden Ghanaians with taxes – Amin Adam assures
The government is determined not to overburden Ghanaians with the payment of more taxes, Dr Mohammed Amin Adam, the Finance Minister, has assured. Rather, the government would ‘use the hard way’ to collect revenue from those who have not been paying the appropriate taxes, as well as those who have been evading taxes in the […]
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IMF deal: Performance indicators contributed to completion of 2nd review – Amin Adam
Dr Mohammed Amin Adam, the Minister of Finance, has outlined key performance indicators that led to the successful completion of the Second Review by the International Monetary Fund (IMF). On Saturday, April 13, 2024, the IMF disclosed that it had reached a staff-level agreement on the second review of the extended credit facility with Ghana. […]
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Business
IMF 2nd Review: Govt Reaches Staff-Level Agreement
IMF, BoG and Finance Ministry officials after the press conference Ghana has reached a staff-level agreement with the International Monetary Fund (IMF) on the second review of the country’s
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Business
IMF reaches Staff-Level Agreement on 2nd review of extended credit facility with Ghana
The International Monetary Fund (IMF) has reached the staff-level agreement on review of the extended credit facility with Ghana. The IMF in a statement released on Saturday April 13, 2024, said Ghana will have access to about US$360 million in financing once the review is approved by IMF Management and formally completed by the IMF […]
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Business
I agree with Bawumia that the future of the economy is digitalisation – Godfred Bokpin
A professor at the University of Ghana Business School, Godfred Bokpin has described the e-levy that was introduced by the Akufo-Addo administration as backward. For him, the future of the economy and businesses is digitalization hence tax handles that affect electronic transactions should not be welcomed. “I agree with Dr Bawumia that the future is […]
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I won’t believe it if Ghana says we won’t go to IMF again – Godfred Bokpin
A professor at the University of Ghana Business School, Godfred Bokpin has said that from all indications Ghana will go back to the International Monetary Fund (IMF) after the 17th one has ended. He says the fundamental factors that result in the country going to the Bretton Woods institution for a bailout have not been […]
The post I won’t believe it if Ghana says we won’t
Business
Election expenditure, debt and revenue measures dominate IMF second review
Ghana’s second programme review with the International Monetary Fund (IMF) has entered its second week, with issues concerning tax efficiency and the avoidance of fiscal slippages in this election year dominating discussions. The IMF mission staff from Washington DC are currently in the country for a two-week assessment of the bailout package. The review also […]
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Ghana’s dependence on IMF, World Bank, a lazy man’s approach – IEA
Dr. John Kwakye, the Director of Research at the Institute of Economic Affairs (IEA), has criticized the Akufo-Addo government for its dependence on funds from the International Monetary Fund (IMF), World Bank, and other donor agencies to strengthen the local currency. He labelled the government’s heavy reliance on foreign aid, including Eurobonds and cocoa syndicated […]
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Finance Ministry working with BoG in preparation for IMF 2nd review – Amin Adam
The Minister of Finance Dr Mohammed Amin Adam has said that the Finance Ministry is working with the Bank of Ghana (BoG) as part of preparations ahead of the second review of the programme with the International Monetary Fund (IMF). He said that the Preliminary assessment undertaken by the Ministry and the central bank shows […]
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