imf Archives - Page 24 of 28

14 Oct

IMF Forecasts Fiscal Deficit Of 9.2% Of GDP For Ghana In 2022

wontumionlineBusinessFiscal deficit, imf, Primary balance

The International Monetary Fund is forecasting a fiscal deficit of 9.2% of Gross Domestic Product for Ghana in 2022. This is coming despite a significant cut in expenditure and expected improvement in revenue. The deficit is slightly lower than the 11.4% it projected for 2021. It is however higher than government’s revised 6.6%, captured in the Mid-Year Budget Review. Based on the figures, the country’s fiscal deficit to GDP is higher than all its peers in Sub-Sahara Africa. Zambia follows closely with a fiscal deficit of 9.1% of GDP in 2022. The Fund said in its October 2022 Fiscal Monitor…

13 Oct

Markets Have Become Extremely Volatile – IMF Global Financial Stability Report

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The International Monetary Fund (IMF) says Central banks across the world must prioritize and communicate their policy decisions, their commitment to the price stability objectives and the need to further normalize monetary policy. In its latest Global Financial Stability Report, the IMF further urged Central banks to get back to target and avoid the anchoring of inflation expectations, which could damage their credibility. According to the IMF’s Integrated Policy Framework, where appropriate, some emerging market economies managing the global tightening cycle could consider using some combination of targeted foreign exchange interventions, capital flow measures, and/or other actions to help smooth…

12 Oct

Ken Ofori-Atta Attends 2022 IMF And World Bank Annual In Washington DC

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Ghana’s Finance Minister, Ken Ofori-Atta is in Washington, DC, to attend the 2022 IMF and World Bank Annual meetings and advance negotiations with the IMF on a Programme that addresses Ghana's macroeconomic and structural challenges. As part of the Annual Meetings Programme, the Finance Minister, on October 11th, 2022, attended the 108th Meeting of Ministers and Governors of the Group of 24 on the theme "Securing a Sustained Post-Pandemic Recovery". The meeting provided a platform to discuss critical areas where the international community and international financial institutions such as the IMF and the World Bank Group could scale up their…

11 Oct

World Bank And IMF Warn Of Possible Global Recession

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The International Monetary Fund (IMF) and the World Bank warned of a possible global recession at the start of the annual meeting of the two bodies in Washington on Monday. Growth was slowing in the industrialized countries of Europe, World Bank President David Malpass said. Referring to the dollar’s recent rise, he said currency devaluation posed a problem for low-income countries, where the debt burden was growing. The rise in interest rates was an additional burden for these countries, and inflation remained a major problem for all, but particularly for the poor, Malpass said. IMF Managing Director Kristalina Georgieva noted…

07 Oct

Ghana’s Debt to GDP Will Not Affect IMF’s Decision To Bailout – Manasseh Boahene

wontumionlineFeatured, News, TrendingGDP, imf, Manasseh Atta Boahen

Government spokesperson on the economy Manaseh Atta Boahene, has said Ghana's debt to GDP will not play a role in IMF’s decision to bail the country as the International Monitory Fund (IMF) concludes its 10 day visit on Ghana’s debt sustainability on Friday 7th October, 2022. Speaking to Kwaku Dawuro on Movement In The Morning Show he said that ''World Bank report on Ghana’s debt sustainability analysis projects the Ghana's debt to GDP to hit 104% in December 2022. However, what they have said is just a projection which may or may not happen. Economic indicators are not only about…

06 Oct

We’re Hopeful Of Securing IMF Programme Before End Of 2022 – Ofori-Atta

wontumionlineBusinessimf, Ken Ofori Atta, Tema Port

The Finance Minister, Ken Ofori-Atta, is optimistic the country will get approval from the International Monetary Fund (IMF) for an economic programme before the end of 2022. According to him, a team of government officials will from this weekend travel to Washington, DC in USA for two weeks to continue negotiations with the Fund to fast-track the deal. He was speaking to the media after paying a visit to the ‘Long Room’ at the Tema Port in the Greater Accra region. He stated that discussions have so far been fruitful and cordial with the IMF mission team, here in Ghana.…

05 Oct

IMF To Consider $1.3 Billion In Emergency Funding For Ukraine On Friday

wontumionlineBusinessimf, UKRAINE

The International Monetary Fund's (IMF) executive board will consider Ukraine's request for $1.3 billion in additional emergency funding on Friday as Russia's war against the country continues, two sources familiar with the matter said. IMF staff have prepared the necessary documents and believe Ukraine has received sufficient financial assurances from its global partners to meet the IMF's debt sustainability requirements and qualify for further emergency funds, the sources told Reuters. If approved, the funds would come from a new emergency lending program to address food shortages approved by the board last week. read more An IMF spokesperson declined to comment.…

04 Oct

Government May Not Be Able To Conclude IMF Deal This Year – Economist

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Dr. Theophilus Acheampong, an economist, doubts government will be able to conclude the deal with the International Monetary Fund before the year ends. “We have done our own Debt Sustainability Analysis as part of the budget cycle. When the IMF comes to town, they also do theirs, and then both sides sit to agree on the numbers, the debt schedule, how much of that will potentially have to be reprofiled, among others.” “We are going to the conversation with a sense of where we are as a country, whilst the IMF is also coming with their own DSA. Beyond that,…

04 Oct

Finance Ministry To Continue IMF Negotiations In U.S.A

wontumionlineBusinessFinance Ministry, imf, Ken Ofori Atta

The Finance Minister, Ken Ofori-Atta has described initial negotiations with the International Monetary Fund (IMF) for a bailout programme as collaborative. According to him, government is discussing debt restructuring plans with the Fund to improve the country’s credit ratings. An IMF team arrived in Ghana in the in the last week of September 2022, to commence official discussions with government for a programme. Speaking at the signing of a $1.13 billion cocoa syndicated loan in Accra, Mr. Ofori-Atta announced that a government team will meet the IMF in Washington DC, U.S.A in the coming weekend to continue the negotiations. He…

29 Sep

T Bills, Short-Term Securities Will Not Be Affected By Ghana’s Debt Restructuring – US-Based Associate Professor

wontumionlineBusinessDebt Sustainability Analysis, Dr. Williams Peprah, imf, Treasury Bills, world bank

Treasury bills and short-term securities will not be affected by the expected debt restructuring programme that the Government of Ghana will undertake after the completion of the Debt Sustainability Analysis by the International Monetary Fund and the World Bank. According to Associate Professor of Finance at Andrews University, Michigan, USA, Dr. Williams Peprah, the focus of the Debt Sustainability Analysis will be on long term bonds or securities. He added that the International Monetary Fund is likely to swap or take care of Ghana’s Eurobonds due in the next four years as part of the debt restructuring programme. A total…