Vice President Bawumia engages with World Bank delegation at Jubilee House
Vice President Mahamudu Bawumia has hosted a delegation from the World Bank at the Jubilee House in Accra for bilateral talks. Posting the meeting on his Facebook page, the Vice President said the World Bank Managing Director of Operations, Anna Bjerde, the Ghana Country Director, Pierre Laporte, and their team were at the meeting. He […]
Government to revamp cocoa sector to reduce annual losses – Finance Minister
Government is to institute well-defined governance standards to address shortfalls and ensure the growth of State-Owned Enterprises in the country. This is to improve structural weaknesses and build resilience of such institutions in a bid to transform the economic growth of the country. Addressing a news conference in Accra, Finance Minister, Ken Ofori-Atta, said about […]
Going to IMF was a painful decision- President Akufo-Addo
The President, Nana Addo Dankwa Akufo-Addo, says instructing the Minister of Finance to seek the IMF’s support for a bailout programme was a painful decision. According to him, this is because the option was not part of the economic transformation agenda. “It was a painful decision for me to take because going to the IMF […]
IMF board approves Ghana’s $3bn bailout to revive ailing economy
The Executive Board of the International Monetary Fund (IMF) has granted approval for Ghana’s $3 billion bailout request, aimed at revitalizing the country’s struggling economy. The decision was made during the Executive Board’s meeting held on Wednesday, following Ghana’s receipt of financing assurances from the Paris Club. International media giants–Reuters and Bloomberg– reported that the […]
IMF holds Executive Board Meeting today to address Ghana’s Extended Credit Facility Arrangement request
The International Monetary Fund, IMF, will hold a crucial Executive Board Meeting Today to discuss Ghana’s request for an Extended Credit Facility, ECF, Arrangement. The meeting holds significant implications for Ghana’s economic future, as the country seeks financial support and policy guidance to overcome its challenges. The ECF Arrangement, if approved, would provide Ghana with […]
$600m first tranche IMF cash coming
The first tranche of the $3 billion International Monetary Fund (IMF) support will be released immediately after the Executive Board of the fund approves the country’s programme on Wednesday, May 17, 2023, the Minister of State at the Ministry of Finance, Dr Mohammed Amin Adams, has told the Daily Graphic. He said the first tranche […]
2023 IMF/ World Bank Spring Meetings and Ghana matters
By: Edward Nyarko Ghana is on the cusp of securing financing assurances after the Finance Minister, Ken Ofori-Atta met with the Managing Director of the IMF, Kristalina Georgieva in Washington D.C. With this breakthrough, the board of the IMF will in the next couple of weeks take action on Ghana’s request for a 3-bilion-dollar bailout. […]
IMF set to approve $3bn bailout for Ghana in May – Sources
SOURCE: GRAPHICONLINE Ghana is set to secure final approval for the $3 billion bailout programme from the International Monetary Fund (IMF) in May after tapping the goodwill of the fund and key bilateral creditors to fast track the debt restructuring process, Graphic Online has gathered. Financial assurance from the bilateral creditors, which is the last […]
UK to be one of worst performing economies this year, predicts IMF
The UK is set to be one of the worst performing major economies in the world this year, according to the International Monetary Fund (IMF). It says the UK economy’s performance in 2023 will be the worst among the 20 biggest economies, known as the G20, which includes sanctions-hit Russia. The IMF predicts the UK […]
Greater financial fragmentation could exacerbate capital flow- IMF warns
By: Franklin ASARE-DONKOH The International Monetary Fund (IMF) says an anticipated greater financial fragmentation could exacerbate capital flow and macro-financial volatility by limiting international risk diversification. The IMF gave the warning in an article titled “Geopolitics and Financial Fragmentation: Implications for Macro-Financial Stability.” According to the managers of the fund rising geopolitical tensions among major economies […]
