Finance Ministry credits IMF programme for economic recovery

Finance Ministry credits IMF programme for economic recovery

The Ministry of Finance has attributed the latest economic growth to the macroeconomic stability and growth interventions pursued under the IMF-supported Post Covid-19 Programme for Economic Growth (PC-PEG). “The latest GDP statistics released by Ghana Statistical Service (GSS) on Wednesday 18th September 2024, show that the Ghanaian economy is fast recovering amid global challenges and debt restructuring,” it said in a statement. The ministry assured Ghanaians that government would continue […]

September 19, 2024 35

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Ghana reaches agreement with Eurobond holders on US$13bn debt restructuring

Ghana has reached agreement-in-principle with its Eurobond holders regarding the restructuring of some US$13 billion debt to the creditors. The Committee of holders of Ghana’s Eurobonds, announced this development on Monday, June 24. Implementation of the agreement-in-principle is subject to mutual agreement on deal documentation and other stated conditions. It noted that the proposed agreement on the restructuring of the Eurobonds would resolve Ghana’s default on the Eurobonds to provide […]

June 24, 2024 56

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Government to publish audit reports from cash waterfall mechanism – Dr. Amin Adam

The government has announced plans to publish audit findings of the cash waterfall mechanism to enhance transparency and accountability within the country’s energy sector. This move comes amidst significant financial challenges the sector faces, including a substantial debt burden owed to independent power producers amounting to over one billion dollars. To address the mounting debt, the government introduced the cash waterfall mechanism in July 2017, aiming to streamline revenue collection […]

April 22, 2024 39

News

Govt will not be reckless in its expenditure this election year- Finance Minister

The Minister for Finance, Dr Amin Adams has stated that, the government will not be reckless in its expenditure in this election year. According to him, reckless expenditure has been the order of the day during each election year which successive governments have battled with but he says the government will not over spend. He said this when the International Monetary Fund (IMF) reached a staff-level agreement on the review […]

April 15, 2024 35

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Ghana records 2.9% GDP growth in 2023

Ghana’s economy grew 2.9 per cent growth in 2023 lower than to 3.8 per cent recorded in 2022, the Ghana Statistical Service said on Wednesday. The Statistical Service indicated that the last quarter of 2023, recorded the highest real GDP growth rate, which was 3.8 per cent, the same growth rate recorded in the fourth quarter of 2022. In terms of nominal values, GSS noted that the country’s GDP, including […]

March 21, 2024 34

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Your Free SHS is poorly targeted – IMF tells government

The International Monetary Fund (IMF) has described government’s flagship Free SHS Senior High School (SHS) programme as poorly targeted. The Fund made this observation in its latest country report on Ghana, whose request for a $3 billion bailout it recently approved. According to the report, the Free SHS programme “which covers the full cost of secondary education, has helped increase enrollment but is poorly targeted.” The IMF also disclosed that […]

May 22, 2023 39