IMFi

The International Monetary Fund (IMF) has urged the Bank of Ghana (BoG) to maintain a tight monetary policy stance given upside risks to inflation while doing more to advance the Fund’s advice on safeguards. According to the Fund, a tight policy stance, supported by robust liquidity absorption operations, is warranted to ensure that inflationary pressures—stemming from the dry spell and the recent cedi depreciation—do not de-anchor inflation expectations while inflation gradually returns within the BoG target band. In its country assessment of Ghana after the third review of the Economic Credit Facility programme, the Bretton Woods institution said continued progress…