world bank Archives - Page 6 of 6

01 Nov

News About World Bank Chasing The Minister of Education Over 1.2 Million Dollar Funds Mismanagement Is Fictitious- Kwasi Kwarteng

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The Spokesperson for the Ministry of Education, Kwasi Kwarteng, has stated the news about World Bank taking the Minister of Education to court over 1.2 million dollar funds embezzlement is false. In an interview with Kwaku Dawuro on Movement In The Morning Show Kwasi Kwarteng said that ‘’when I see these headlines, I ask myself -who watches the watchman? The letter that came was directed to the Minister for finance but these media outlets reported falsely. Sometimes I question the motive behind these headlines''. ''Ghana Accountability for Learning Outcomes Project (GALOP) is a project that is funded by World Bank…

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…

10 Oct

World Bank: Ghana Ranks 1st With Highest Food Price Increases Of 122% In Sub-Saharan Africa

wontumionlineBusinessGhana, october 2022 Africa pulse Report, senegal, Uganda, world bank

Ghana is ranked 1st by the World Bank with the highest food prices in Sub-Saharan Africa in 2022. According to the Bretton Wood institution’s October 2022 Africa Pulse Report, food prices have since January 1, 2022, gone up by 122%. Since the start of 2022, food prices have increased sharply in many countries, largely due to the Russian/Ukraine war. According to the Food Price Index in Countries in Sub-Saharan Africa, Ghana has recorded very sharp prices in food on the African continent. Food inflation in Ghana has been high, recording a year-on-year inflation of 34.4% in August 2022, the Ghana Statistical…

05 Oct

Ghana’s Debt To Jump To 104.6% Of GDP – World Bank

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The World Bank has projected that public debt is projected to nudge up in non-resource-rich countries, up to 65.6 percent of Gross Domestic Product (GDP) in 2022 from 65.1 per cent in the previous year. Debt is expected to jump in Ghana to 104.6 percent of GDP, from 76.6 a year earlier amid a widened government deficit, massive weakening of the cedi, and rising debt service costs, the World Bank said. “The country’s debt is expected to remain elevated at 99.7 and 101.8 percent of GDP in 2023 and 2024, respectively. Tightening of financial conditions globally along with the fall…

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…

02 Aug

Ghana, Chad, And Sierra Leone To Receive Support From World Bank

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The World Bank has scaled up its financing for Food Security with an additional $315 Million to Strengthen the Resilience of Food Systems across West Africa. Ousmane Diagana, World Bank’s Vice-President for Western and Central Africa explained that the new financing will help to increase the effectiveness of agriculture and food crisis prevention and management and strengthen the capacities to adapt to climate variability and change. It will also strengthen the adaptive capacity of the food system’s productive base and make it sustainable, and support the regional food market’s integration by linking the beneficiary countries, consolidating their food reserve systems,…