imf Archives - Page 26 of 28

26 Sep

IMF Team Arrives Today To Hold Negotiations On $3 Billion Loan Request

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The International Monetary Fund confirmed on Sunday that a staff team will visit Ghana this week to continue discussions with the authorities on policies and reforms that could be supported by an IMF lending arrangement. Ghana turned to the IMF for help in July as its balance-of-payments deteriorated and hundreds took to the streets to protest against economic hardship. An IMF staff team briefly visited the country two weeks later. Reuters' reported last week that an IMF team would visit Ghana this week. The IMF, in a statement on Sunday, said the team would arrive on Monday and stay until Oct. 7.…

22 Sep

Government Races Against Time To Secure A Concrete Deal With IMF – Ofori-Atta

wontumionlineBusinessbudget, imf, Ken Ofori Atta

Government says it is racing against time in securing a concrete deal with the International Monetary Fund (IMF) before the 2023 Budget is read in November, 2022. A delegation from the IMF will be in town from Monday, September 26 to commence official negotiations with Ghana for an economic programme to help restructure the imbalance in the Ghanaian economy. The team is expected to stay in the country for the next two weeks. Finance Minister, Ken Ofori Atta, speaking at a signing of a Memorandum of Understanding with some local banks for the YouStart progarmme, said it is crucial for…

20 Sep

IMF’s Mission to Ghana Has Been Constructive; Another Team Coming Soon

wontumionlineBusinessGerry rice, Ghana, imf

The International Monetary Fund (IMF) has described its mission to Ghana as constructive. According to the Fund, another team from the Fund will visit Ghana in the coming weeks. Speaking at a press conference, Director of Communications at the IMF, Gerry Rice, said “we had an IMF staff team in Accra in July [2022] to begin initial discussions with the Ghanaian authorities. And we characterized that mission as constructive, kick started the process, and laid the groundwork for engagement, which now continues”. “Our Mission Chief for the IMF also recently visited Accra, again, to meet with key counterparts. And we’re…

19 Sep

COVID, Russia-Ukraine War Adversely Affected Ghana – IMF Top Official Insists

wontumionlineNewsCOVID-19, imf, Russia-Ukraine

The Director of the Communications Department of the International Monetary Fund (IMF), Gerry Rice, has re-echoed the devasting effects of the global pandemic COVID-19 and the Russia-Ukraine conflict on Ghana’s economy, just like other economies around the world. According to him, many countries, including Ghana, were already at the mercy of the COVID-19 pandemic when the Russia-Ukraine conflict struck, which is the reason they have been plunged into more distress. “I would say, as just to repeat, the war in Ukraine has triggered a global economic shock that’s hitting Ghana and, as I said, many other countries, and all at…

08 Sep

Why Listen To Mahama When The IMF Boss Has Spoken- Alexander Martey To Ghanaians

wontumionlineFeatured, News, TrendingAlexander Leonel Martey, imf, John Mahama

A Presidential staffer, Alexander Martey, has questioned why Ghanaians will even want to listen to former President John Dramani Mahama and his denigration of the government, when the International Monetary Fund (IMF) Boss had justified the need for Ghana to seek for a bailout from the IMF. According to him, the more reason John Mahama has been criticizing the government is because he wants to become a President again, so that all that he wasn't able to take in his possession, he can do it. Speaking on Movement In The Morning Show on Wontumi Radio/Movement TV on September 8, 2022, …

08 Sep

IMF Programme Will Check Govt’s Reckless Conduct – Mahama Tells US Ambassador

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Former President John Dramani Mahama has told the United States Ambassador to Ghana, Virginia E. Palmer that the programme that the Akufo-Addo administration is seeking under the International Monetary Fund (IMF) will check what he believes is the government’s reckless conduct. The 2020 Presidential Candidate of the National Democratic Congress (NDC) told the Ambassador that government has been wasteful in the utilization of Covid funds. He also said the government took poor economic decisions, leading to the severity of the economic woes of the country. Speaking in a meeting with Ambassador Palmer in Accra, Mr Mahama said “Confidence will only be restored when people know…

08 Sep

Be Factual – Mahama Tells IMF Boss On Comment That Ghana’s Economic Challenges Are Not Due To Bad Policies

wontumionlineBusinessimf, John Mahama

Former President John Dramani Mahama has reacted to the comments by Director of the IFnternational Monetary Fund (IM) Kristalina Georgina to the effect that Ghana’s economic challenges are not due to bad policies. The IMF boss attributed Ghana’s prevailing weak economic conditions to shocks from the Covid pandemic and the Russian-Ukraine war. According to her, shocks from the two unforeseen factors have heavily impacted the economy and are to be blamed for the country’s woes and not “bad policies” said to be implemented by the government. “Like everybody on this planet you have been hurt by exogenous shocks. First the pandemic, then Russia-Ukraine. And then the…

05 Sep

GHANA-IMF $3BN Deal To Be Finalised Before End Of Year – IMF Boss

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The Managing Director of the International Monetary Fund, Kristalina Georgieva, has stated that a deal between Ghana and the IMF should be reached and finalized before the end of the year. In a close door meeting with the President of the Republic, Nana Addo Dankwa Akufo-Addo, on Monday, 5th September 2022, on the sidelines of the Africa Adaptation Summit, in Rotterdam, Netherlands, the IMF boss told President Akufo-Addo “we understand the urgency, and we will move as quickly as possible.” Describing Ghana as a “superb country”, she reiterated the determination of the Fund to work with Government and the Ministry…

05 Sep

IMF Bailouts Won’t Solve Ghana’s Economic Problems — Dalex Finance

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Mr Kenneth Thompson, the Chief Executive Officer of Dalex Finance, has said Ghana needs effective economic management measures rather than seeking bailouts from the International Monetary Fund (IMF). “IMF is a circus that attracts attention but doesn’t deliver much, but with discipline and dedication we can build our own country without relying on foreign aid,” he said. Mr Thompson said this at the Stakeholders Engagement and Workers' Appreciation Day organised by the Tema Regional Office of the Ghana News Agency to address issues of national concern and contribute to development. Ghana, since independence, has sought bailouts from the IMF 17…

30 Aug

We’re Ready To Help Ghana Stabilize Economy – IMF

wontumionlineBusinessimf

The International Monetary Fund (IMF) has expressed its willingness to help Ghana stabilize its economy. This was disclosed by the IMF’s Managing Director, Kristalina Georgieva in a tweet after a meeting with the Finance Minister, Ken Ofori-Atta. The IMF concluded a fact-finding mission to Ghana in July in which it met with key stakeholders like the Vice President, Finance Minister, and the Bank of Ghana. Ghana was recently downgraded by Fitch Ratings from B- to CCC. The country’s inflation rate also hit 31.7 percent in the month of July 2022. Fitch expects a deal with the IMF to be…