imf Archives - Page 16 of 28

03 Apr

The Motive Of The Newly Passed Bills Is To Aid Better The Economy- Adenta Kumi

wontumionlineFeatured, News, TrendingAlfred Adenta Kumi, imf, Movement In The Morning, revenue bills

Communication team member for the New Patriotic Party, Alfred Adenta Kumi, says the recently passed bills is to help improve the current state of the economy. Speaking in an interview with Kwaku Dawuro, on Movement In The Morning, on Movement TV/Wontumi radio, Adenta Kumi specifically stated that the newly passed bill will ease Ghana's decision in going to the International Monetary Fund (IMF). According to him, successfully completing the IMF process with the aid of the new bills which will generate revenue, will enable the stability and betterment of the economy. He asserted that ''Dawuro, what i want to say…

29 Mar

IMF Bailout Engagements Progressing Well – Dr Addison

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Discussions regarding the proposed US$3billion International Monetary Fund (IMF) bailout programme are progressing well, Bank of Ghana Governor Dr. Ernest Addison has said. The IMF reached a Staff-Level Agreement on the US$3billion three-year Extended Credit Facility with Ghana in December 2022; however, there are some prior actions to be achieved in order for the Fund to finally sign an agreement with the country. Responding to questions at a press briefing following the Monetary Policy Committee meeting, Governor Addison noted that the budget statement for 2023 is on a consolidation path consistent with key elements agreed with the IMF at the Staff Level in December 2022. He…

29 Mar

IMF Reluctant To Approve Bailout Because Of Huge Budget Deficit – Prof. Bokpin

wontumionlineBusinessimf, Professor Godfred Bokpin

Economist, Professor Godfred Bokpin, says the International Monetary Fund’s Executive Board’s seeming reluctance to approve Ghana’s $3 billion bailout is due to the country’s huge budget deficit. According to him, the country’s 2023 budget deficit alone stands at $5 billion which is $2 billion dollars more than the IMF bailout. He stated that the only reason Ghana managed to secure a staff-level agreement is probably due to pressure from Washington following Ghana’s recent courting of the US’ favour in pursuing an IMF bailout. “And I think that in all of this it’s obvious now that the hole that has to…

27 Mar

Let’s Not Play Politics With The Securing Of An IMF Bailout- Anyimadu Antwi

wontumionlineFeatured, News, TrendingAnyimadu Antwi, imf, Parliament

The Member of Parliament for Asante Akyem Central, Honorable Anyimadu Antwi, has urged his colleague MP not to play politics with issues related to the IMF. According to him, the three bills before the august house will determine the fate of the country and therefore there was the need for both sides of the houses to cooperate and ensure those bills are passed- in order to secure the bailout from the IMF. He made this known during a discussion segment on Movement in the morning show on Movement TV/ Wontumi Radio monitored by movementtvonline. " I will urge our friend…

24 Mar

Ghana Is Not Poor, We Are Only Being Poorly Managed – Dr. Ali-Nakyea

wontumionlineBusinessDr. Ali Nakyea, imf

Ghana is not a poor country but is simply being poorly managed, these are the sentiments of tax expert Abdallah Ali-Nakyea. His comments follow the conditionalities attached to the imminent $3billlion IMF bailout to the government of Ghana; conditions which include restructuring of the country’s debts, a programme that has met stiff domestic resistance. Chiding the government, Dr. Ali-Nakyea asserted that mismanagement and corruption have landed the government in the tentacles of the Bretton Woods institution. “…my key issue is corruption. We cannot run away from it,” he told George Wiafe on JOYNEWS’ primetime show, PM Express on Thursday, adding…

24 Mar

Get Financing Assurances From Creditors, Partners Before Board Approval – IMF To Ghana

wontumionlineBusinessimf, Julie Kozack

The International Monetary Fund (IMF) has indicated that it is necessary for Ghana to secure financing assurances from its partners and creditors before the country can present its programme request to the Executive Board for approval. The Fund was responding to a question at a news conference in Washington DC, U.S.A on the status of Ghana’s programme, following a recent statement by President Akufo-Addo that Ghana is working to submit its programme to the board by end this March 2023 for approval. The Director of Communications at the IMF, Julie Kozack noted that “Financing assurances from partners and creditors are…

22 Mar

IMF Bailout To Depend On Government’s Ability To Achieve 55% Of Debt To GDP – Fitch

wontumionlineBusinessdebt to GDP, fitch, Ghana, imf

The International Monetary Fund support for Ghana will likely depend on the government’s ability to show a path towards bringing the present value of debt to 55% of Gross Domestic Product, international ratings agency, Fitch Ratings, has disclosed that. This will be over the forecast horizon on the basis of the IMF/World Bank debt sustainability analysis and the ability of official bilateral creditors to provide financing assurances in the context of the Common Framework external debt restructuring that the Ghana government has requested. In its comment after upgrading Ghana’s Long-Term (LT) Local-Currency (LC) Issuer Default Rating (IDR) to ‘CCC’ from…

16 Mar

Ghana’s Debt To IMF Unchanged At $1.70Bn In January 2023; Repays $75m Of Loans

wontumionlineBusinessGhana, imf, outstanding loans

Ghana’s outstanding loans to the International Monetary Fund was relatively unchanged at 1.278 billion Special Drawing Rights (SDR 1.278 billion) at the end of January 2023, equivalent to $1.708 billion. According to the Fund’s Quarterly Finances, the country is still ranked as number one in Africa with the largest outstanding debt to the Bretton Wood institution. Ghana’s loan exposure to the Bretton Woods institution is classified as concessional lending. Concessional loan comes with a low-interest financing. The country has so far repaid SDR 53 million, equivalent to $75.7 million to the IMF. According to the data from the Fund, the…

10 Mar

Stop Ranting, Even The IMF Has Confirmed Ghana’s Economy Was Affected By External Factors- Paul Amaning To NDC (VIDEO)

wontumionlineFeatured, News, TrendingGhana's economy, imf, Paul Amaning

A member of the communication team member of the ruling New Patriotic Party (NPP), Paul Amaning, has said that even the IMF Boss, has said that Ghana was on a path of sustainable growth, if not for external shocks like COVID-19 and the Russia-Ukraine war. He noted that the NPP government has ensured that every sector of the economy had receive massive infrastructure. Contributing to the discussion on Movement in the morning show on Movement TV/ Wontumi Radio, he said that that government had vision for the country and was on course to ensure the realization of those vision, if…

07 Mar

IMF Deal In April: Ghana, China Meeting Keeps Hope Alive

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The government, last Wednesday, concluded its first debt restructuring discussions with Chinese creditors in Accra, after earlier reports of the Chinese developing cold feet and postponing meetings to the latter part of this month. This new development, however, according to experts, cast a shining ray of hope to the uncertainty emerging on the country’s bailout deal from the International Monetary Fund (IMF). The meeting between officials of the Ministry of Finance and their counterparts from China examined Ghana’s indebtedness to China and the possible ways the Asian giant can support the government’s external debt restructuring – a precursor to a…