The International Monetary Fund (IMF) is conducting a thorough debt sustainability review with the Bank of Ghana and Ministry of Finance officials for a US$3 billion bailout program. The government of Ghana is putting together a thorough post-Covid-19 economic blueprint, which would serve as the foundation for IMF negotiations, according to a statement from the ministry.
Ghanaians have delved into the main agenda regarding initiatives to be rolled out by the International Monetary Fund in bringing back total sustenance to the Ghanaian economy. This was after the International Monetary Fund (IMF) announced that its economic program in Ghana will focus heavily on debt sustainability.
Director of Strategy and Business Operations of Dalex Finance Joe Jackson, says he is willing to give the Finance Minister the benefit of the doubt. The targets are aggressive, but all parties are functioning with an understanding of the urgency of the issue, he stated on Eyewitness News.
Johnnie Hughes, host of Johnnies Bite and co-host of The Big Issue today, Monday, September 26, 2022 engaged MP for Anyaa Sowutwom, Dr. Adomako Kissi. The duo discussed the IMF discussion with government today. According to Johnnie Hughes he was pessimistic that government will make use of the money that the government will be given by the financial institution.
Speaking on TV3's newday morning show today, 29th September 2022, Lawratu Musa Saaka, NPP communications team member, deliberates with other guests on the state of Ghana's economy with Berla Mundi as the host. According to Mrs. Lawratu Musa, the economy of Ghana is not worse as it seems.
From now until October 7, a staff delegation from the International Monetary Fund (IMF), led by Stéphane Roudet, Ghana's mission chief, is scheduled to visit Accra. The staff delegation is expected in Ghana today 26th September and continue talks with Ghanaian officials about policies and reforms that might be financed by an IMF funding arrangement.
The return of Ghana to the IMF over the course of three years underscores its most profound economic
Ghana is again seeking assistance from the International Monetary Fund (IMF) to enable the country to meet its payments to the rest of the world and restore the health of government finances. It is the second time in the past three years and the 17th since independence in 1957 that Ghana has turned to the IMF for help.
"Galamsey" is a term used to describe illegal mining activities in the country. In Ghana, the law frowns on illegal mining activities due to their negative effects on the environment or human life. TV3's broadcast journalist Johnnie Hughes has been some wild revelations about how galamsey is affecting the country.
Francis Addai-Nimo, a former Member of Parliament (MP) for Mampong, has hinted that the bailout program the government would implement with the IMF will assist the New Patriotic Party (NPP) maintain power in the 2024 elections. The former MP reportedly stated that the bailout will assist the government in resolving the present issues in the nation, which are primarily brought on by external forces, according to 3news.com.
IMANI-Africa claims that the government must make difficult decisions on the impending restructuring of its sovereign debt. According to the policy think tank, developing confidence along this road would require strong leadership. “Like all burdens, this one too will become lighter if it is shared collectively by those it affects, the people of Ghana.
The IMF program will help gov't; it'll guarantee NPP breaks the 8 - Addai-Nimoh A program under the Global Money related Asset (IMF) will help the Public authority of Ghana to address the difficulties that have been incited forcibly Majeure, a previous Individual from Parliament for Mampong, Francis Addai-Nimoh has said.
The Financial Analyst, Michael Nii Yarboi Annan comments on the economic crisis and ended up serving a strong notice to the ruling government that if they could be a bit more discipline, then they don't need the International Monetary Fund (IMF). According to Michael Nii Yarboi Annan, the International Monetary Fund (IMF) can never be the solution to the economic crisis in Ghana and will never be because of the economy's balance of payments.
Cassiel Ato Forson, the minority party's spokesperson on finance, has questioned the government's motivation to reach an agreement with the IMF before the drafting of the 2023 budget. “I doubt in the next six weeks we are going to have a programme. That will be a magic of a lifetime,” he said on Eyewitness News.
Richmond Atuahene, an economist and banking consultant, is optimistic that the government would succeed in its goal of putting important elements of its agreement with the International Monetary Fund (IMF) in the budget statement for 2023. He claims that if the government makes enough effort and conducts its public negotiations on time, it will be feasible to reach an agreement before the budget is announced in November 2022, as the Finance Minister stated.
In the upcoming weeks, the International Monetary Fund will send another delegation to Ghana as the nation struggles to finalize a bailout plan. After the Akufo-Addo administration declared its plan to return to the IMF for a bailout, a staff team traveled to Ghana in July for preliminary talks.
The ongoing war between Russians and Ukrainians has brought several impact on economies globally including Ghana. Ghana recently carried its economic crisis to IMF for bailout which has gone through series of serious discussions in the couple of months within the year 2022. Majority of Ghanaian citizens believe that the state of the economy is as a result of mismanagement from the residing government and others also believe it is as a result of the Covid-19 pandemic out break and the Russian and Ukrainian war.
The government is working assiduously to reach a deal with the International Monetary Fund (IMF), according to Ken Ofori-Atta, Minister of Finance. Negotiations will move quickly to guarantee that crucial elements of the program are reflected in the 2023 Annual Budget Statement in November 2022, the president continued in his conversation with the IMF Managing Director, Kristalina Georgieva.
From September 26 to October 7, a staff delegation from the International Monetary Fund (IMF) will be in Ghana to continue discussions with the government about policies and reforms that could be financed by a lending agreement. During the visit, IMF staff will also interact with other stakeholders more.
Ghana has been trending all over the world when news broke that they will be going to International Monetary Fund for bail out. Bail out is when you seek for help financially from available means but the question that people have been asking themselves is that 'What went wrong'.
The Bank of Ghana (Swamp) said it has rescheduled its impending loan cost choice to 7 October from 26 September, to concur with the finish of an IMF mission to the country. "The Bank of Ghana is rescheduling its 108th Money related Strategy Council meeting to concur with the finish of the IMF mission to permit the choice on the approach rate to profit from the more extensive conversations to be held during the period.