Home / BUSINESS NEWS / IMF : We Are Ready To Support Ghana Restore Macroeconomic Stability

IMF : We Are Ready To Support Ghana Restore Macroeconomic Stability

Spread the love

The IMF says it is ready to support Ghana to revive its ailing economy.

The resident representative of the fund, Dr. Albert Touna-Mama in a series of tweets confirmed that the Government of Ghana had reached out to his outfit for support to restore the economy to a path of growth.

“We can confirm that the authorities [of Ghana] have been in touch to request [the] Fund’s support to #Ghana’s own economic program,” he said.

 

“The #IMF stands ready to assist #Ghana to restore macroeconomics stability; safeguard debt sustainability; promote inclusive and sustainable growth; and face the impact of the war in #Ukraine and the lingering pandemic. We are looking forward to meeting with the authorities in the coming weeks to start the initial discussions,” he added.

 

The government on July 1, 2022, announced that President Akufo-Addo has authorized Finance Minister, Ken Ofori-Atta to begin discussions with the IMF for a programme to support the country’s domestic plan.

Ghana’s economy is currently in dire straits with worsening public debt, rising inflation, fuel prices, cedi depreciation among others.

 

Recent data released by the Bank of Ghana puts Ghana’s total public debt stock, as of March 2022, at US$ 55.1 billion (GH¢391.9 billion).

The country’s situation is complicated by its limited access to the international capital market.

There are indications that the government’s projected revenue from the controversial E-levy has woefully fallen short of its target two months after its eventual introduction, forcing the Government of Ghana to make a U-turn on its earlier vow not to seek IMF assistance.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: Citinewsroom

 

 

 

 

Disclaimer: MyGhanaMedia is not responsible for this report and its content. There are four types of content published on MyGhanaMedia daily: curated content; syndicated content; user-generated content; and original content.

Image


Send your news stories to myghanamedia@gmail.com and Chat with us via WhatsApp on +233 200818719

 

 

 

About Adwenpa-Hene

we publish on Entertainment, Sports, Politics, Lifestyle, and Technology. You can also follow Us on : YouTube Channel - My Ghana Media TV, Facebook - MyghanaMedia TV , Twitter - @MyGhanamedia2 & Instagram - My Ghana Media TV. Email Address: myghanamedia@gmail.com Contact Us: 0200818719

Check Also

VIDEO: Mahama Shouldn’t Be Allowed To Contest The 2024 Elections; He Does Not Have Good Intentions – Akua Donkor

Spread the love The Leader of the Ghana Freedom Party, Akua Donkor, has expressed her …