Government to publish audit reports from cash waterfall mechanism – Dr. Amin Adam
The government has announced plans to publish audit findings of the cash waterfall mechanism to enhance transparency and accountability within the country’s energy sector. This move comes amidst significant financial challenges the sector faces, including a substantial debt burden owed to independent power producers amounting to over one billion dollars. To address the mounting debt, […]
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 […]
Ghana to adjust external bond deal to meet IMF debt sustainability goals – Finance Ministry
By: Franklin ASARE-DONKOH The Ministry of Finance says despite reaching an interim agreement with external bondholders, Ghana still needs to adjust the deal to meet the debt sustainability targets set by the International Monetary Fund (IMF). The Finance Ministry’s statement comes amid concerns from certain economic sectors that Ghana has not successfully reached an agreement […]
IMF reaches Staff-Level Agreement on 2nd review of extended credit facility with Ghana
By Racheal Asamoah The International Monetary Fund (IMF) has reached a staff-level agreement on the review of the extended credit facility with Ghana. In a statement released on Saturday, April 13, 2024, said, “Ghana will have access to about US$360 million in financing once the review is approved by IMF Management and formally completed by […]
Nana Akufo-Addo and IMF Boss Kristalina Georgieva set tone for engagements within Ghana’s Financial Sector
After an interaction with President Akufo-Addo, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva is expected to meet with the Finance Minister, Dr. Mohammed Amin Adam and Bank of Ghana Governor, Dr. Ernest Addison alongside some representatives from some interest groups on the way forward for Ghana’s three-year US$ 3 billion extended […]
Government will continue IMF conditionalities despite change of Finance Minister – Akufo-Addo
By: Emmanuel Oti Acheampong President Akufo-Addo during his penultimate State of the Nation Address on February 27, 2024 reiterated government’s commitment in continuing the conditionalities given the country by the International Monetary Fund, IMF. On February 14, 2024, the President made some significant reshuffling in his ministers which saw the longest serving Finance Minister, Ken […]
I’ll not depart from ongoing IMF programme – Amin Adam
By: Franklin ASARE-DONKOH The newly appointed Ghana’s Finance Minister, Dr. Mohammed Amin Adam, says he will not deviate from economic policies his predecessor, Mr. Ken Ofori Atta, has put forth. Speaking in an interview hours after his appointment to replace Mr. Ofori Atta was announced, Dr. Adam who has been part and parcel of government’s […]
IMF approves second $600m for immediate disbursement to Ghana
By: Franklin ASARE-DONKOH The International Monetary Fund (IMF) has approved the second tranche of US$600 million for Ghana. The IMF Ghana Country Director announced this during a joint press conference held on Friday, January 19, 2024. “The Executive Board of the International Monetary Fund (IMF) completed today the First review of the $3 billion, 36-month […]
President Akufo-Addo hints Ghana is soon to reap rewards of IMF support
By: Naa Dzagbley Ago President Akufo-Addo says by next year (2024), Ghanaians will begin to reap the benefits of the IMF arrangement. According to him the decision to go to the IMF is beginning to pay off. Speaking during a courtesy call on him by the Group Chairman of Standard Chartered Bank Bill Winters, President Akufo-Addo stated […]
IMF, World Bank to hold annual meeting in Morocco
The International Monetary Fund (IMF) and the World Bank are gathering in Marrakech, Morocco this week for their annual meeting. It has been fifty years since their last gathering on the continent. The two institutions traditionally hold their week-long meeting away from their Washington headquarters every two or three years. After two postponements due to […]
