Tag Archives: IMF

Former President John Agyekum Kufuor has said the National Democratic Congress (NDC) administration under former President Jerry John Rawlings once lied to the International Monetary Fund (IMF), leading to Ghana being fined $36 million. He said this was part of the monumental economic challenges that the NDC administration left for him to come and …

CRISIS TO RECOVERY STRENGTHENING ECONOMIC INSTITUTIONS IN SUB-SAHARAN AFRICA DURING COVID-19 SPEAKING NOTES FOR IMF WEBINAR DR. MAXWELL OPOKU-AFARI, FIRST DEPUTY GOVERNOR, BANK OF GHANA JULY 22, 2020 1. Introduction The global economy is going through extraordinary times, requiring even more exceptional responses. Policy response has been swift and decisive in …

The International Monetary Fund (IMF) has said all countries—including those that have seemingly passed peaks in COVID-19 infections—should ensure that their health care systems are adequately resourced. The IMF said in its ‘World Economic Outlook Update, June 2020’ that the international community must vastly step up its support of national initiatives, including …

Countries across Africa still face financing needs amounting to over US$110 billion in 2020 alone, the International Monetary Fund (IMF) has said.   The IMF has also doubled access to its emergency lending facilities. Access limits to the Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI) have been doubled …

The International Monetary Fund (IMF) is projecting an inflation rate below the upper band of the Bank of Ghana’s target, for this year. This means the prices of goods and services will remain largely the same, while interest rates stay low. The Central Bank is forecasting an average inflation rate …

The International Monetary Fund (IMF) says Ghana’s track record of repaying debts will enable her to repay the US$1bn COVID-19 facility it lent the country with ease. In a staff report and statement by the Executive Director for Ghana, the Fund said: “Ghana’s track record of servicing debts to the …

The government of Ghana’s fiscal deficit is projected to reach 9.5% of GDP by the end of this year. That is according to a revised forecast by the International Monetary Fund. Excluding energy and financial costs, the budget deficit of GDP will, however, be 6.4% of GDP. This is higher …

The International Monetary Fund said on Thursday that five wealthy countries pledged to provide $11.7 billion to an IMF loan and grant facility for poor countries, as the Fund’s steering committee vowed to review the adequacy of resources needed to fight the coronavirus pandemic. IMF Managing Director Kristalina Georgieva said …

The International Monetary Fund, IMF has projected that Ghana will not go into an economic recession later this year due to Covid-19 pandemic. Some developmental partners of Ghana including the World Bank have warned that the country could go into an economic recession due to the Covid-19 outbreak. IMF Country …

The International Monetary Fund (IMF) has announced it has granted debt relief to over 25 poor member countries. The International Monetary Fund (IMF) is an organization of 189 countries, that helps foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and reduce poverty around the world. …