Tag Archives: IMF

The Government of Ghana is set to miss out on its target of meeting the Board of the International Monetary Fund (IMF) for the $3 billion bailout it is seeking. This comes as Ghana missed out on the schedule of meetings for the Board of the International Monetary Fund (IMF) …

The German Ambassador to Ghana says Ghana’s talks with the International Monetary Fund (IMF) for a bailout is in danger. This, Daniel Krull attributes to China’s unwillingness to engage in possible debt relief. “The biggest elephant in the room is China. China is the largest creditor to Ghana and so …

The Ghana cedi is now selling at ¢12 to the US dollar in the retail or forex market, following days of sustained stability. This is about 0.86% loss in value since the beginning of the year. The Bank of Ghana is however quoting a dollar for ¢9.0002 on the interbank …

The International Monetary Fund (IMF) says it is working towards a debt cancellation programme for Ghana and other countries amid a global economic recession scare this year. The other countries are Ethiopia, Zambia, Chad, Lebanon, Surinam, and Sri Lanka. The move, Madam Kristalina Georgieva, the IMF Managing Director, said was …

The Volta Regional Chairman of the New Patriotic Party (NPP), Makafui Kofi Woanya, has said that the NPP has delivered on its promises without IMF, contrary to what critics and the opposition would have wished happened Mr. Woanya who made the comment during a press soirée for journalists in the …

Ghana’s finance ministry said on Monday it was suspending debt service payments on certain categories of external debt including Eurobonds, commercial loans and most bilateral debt, amid the worst economic crisis in a generation.   Ghana had already announced a domestic debt exchange programme and on Tuesday said it had reached a …

Former President John Mahama is worried about a stance taken by President Akufo-Akufo on funding for the country. The National Democratic Congress (NDC) leader finds it morally questionable that Nana Akufo-Addo is able to urge other African leaders against begging when the country is just going for a bailout from …

The International Monetary Fund staff and government have reached a Staff-Level Agreement on economic policies and reforms to be supported by a new three-year arrangement under the Extended Credit Facility (ECF) of about $3 billion. According to a statement from the fund, the government strong reform programme aimed at restoring …

The Agbogbomefia Paramount Chief of Asogli State has described the government’s promise of “no haircuts” in the ongoing debt exchange programme as a mockery. Togbe Afede XIV said the opposite is currently happening.   According to him, a reduction in a promised coupon simply means a “haircut.” In a 14-page …

A team from the International Monetary Fund has arrived in Ghana for the final lap of engagement with government on its bailout from the Bretton Woods Institute. They are expected to close a staff level agreement with the Fund before the end of the year. A picture circulating on social …