Fitch Solutions, an international rating agency, says a gradual improvement in investor sentiment and a US$600 million International Monetary Fund (IMF) disbursement will keep the exchange rate stable. In a report detailing interest rate and inflationary dynamics for 2024, the rating agency said it predicted that the disbursement and investor sentiments would keep the cedis […] The post IMF
The post Imposition of Tax: IMF would be laughing at us by now – Kabutey Ocansey | Breakfast Daily appeared first on Citinewsroom - Comprehensive News in Ghana.
Ghana has been lauded for its ambitious Free Senior High School (SHS) programme, aimed at making quality high school education accessible to all. Spearheaded by the government, this initiative has made substantial investments, amounting to approximately GH¢8.4billion, and has provided education opportunities to a commendable 5.7 million Ghanaians over the past seven years. However, beneath […] The post
Headline inflation is expected to ease between13% to 17% by the end of 2024, according to the Bank of Ghana (BoG). The Central Bank says the expectation was as a result of inflation declining sharply by more than 30% in the course of 2023. It is also expected to trend back gradually to within the […] The post 2024 expected to end with at least 13% inflation -BoG appeared first on The
Recapitalisation efforts on track, profitability rebounds Stability Fund offers additional support Bank of Ghana Governor Dr. Ernest Addison has stated that recapitalisation of banks following the Domestic Debt Exchange Programme (DDEP) should continue without any significant hitches, on account of their performance in 2023, as well as the Ghana Financial Stability Fund (GFSF). Speaking during […] The post Banks
The International Monetary Fund’s (IMF) resident representative in Ghana, Dr. Leandro Medina, has lauded the nation’s concerted efforts to achieve economic stability, affirming that although Ghana has not reached its destination, it is undeniably on the right path. During an interview on the Citi Breakfast Show on Tuesday, January 30, Dr. Medina told host Bernard […] The post Ghana’s
The International Monetary Fund’s resident representative in Ghana, Dr. Leandro Medina, has stressed the importance of protecting vulnerable individuals during challenging reforms and actions, such as the introduction of a 21% Value Added Tax on specific electricity consumers as part of Ghana’s COVID-19 recovery programme. A letter addressed to the Electricity Company of Ghana (ECG) […] The post IMF
Ghana is making important inroads to stabilize its economy, and continued program implementation beckons a brighter future. When Ghana requested an IMF-supported program in July 2022, the country was dealing with an economic and financial crisis that was the outcome of preexisting vulnerabilities and substantial external shocks. The authorities have since made compelling progress under […] The post Ghana:
The Executive Board of the International Monetary Fund (IMF) approved the release of Ghana’s second tranche of US$600 million, and as expected, the amount has reflected in the accounts of Ghana this week. The release of the second tranche brings the total disbursement to US$1.2 billion of the US$3 billion Extended Credit Facility. The entire […] The post Editorial: Utilise IMF
The Bank of Ghana (BoG) is prepared to continue the necessary structural reforms to revive the country’s shaky economy. It emphasizes the importance of vigilance and commitment in realigning the country’s economic situation. Following the approval of the second $600 million tranche from the International Monetary Fund (IMF), Dr. Ernest Addison, Governor of the Bank […] The post We’ll
The post IMF Deal: We need a ‘hall of shame’ to bury corrupt leaders – Kabutey Ocansey | Breakfast Daily appeared first on Citinewsroom - Comprehensive News in Ghana.
The Ghana Tertiary Education Commission (GTEC) is warning students to refrain from pursuing unaccredited programs at various universities in Ghana or risk being denied employment in government institutions. Additionally, the commission states that students who study such programs will not be allowed to undergo their national service. Speaking to journalists in Kumasi after engaging Vice […] The post Stop
The Bank of Ghana has acknowledged receipt of US$600 million as the second tranche of Ghana’s bailout package with the International Monetary Fund (IMF) The cash meant for budget support and stabilization of the local currency, was officially credited to the Central Bank’s account today, Tuesday, January 23, 2023. This means, Ghana has received a […] The post IMF
The National Democratic Congress (NDC) has been urged to choose a presidential running mate who embodies qualities that can turn the party’s political fortunes around and ensure its victory in the upcoming election. In a statement, Change Makers Forum (CMF), a group of professionals aligned to the centre-left political orientation, underscored the need for the […] The post
In a major development, the International Monetary Fund (IMF) has given its approval for the first review of Ghana’s loan programme, allowing for the immediate disbursement of approximately $600 Read More... The post IMF Approves 2nd Tranche Payment
Deputy Finance Minister Dr. John Kumah has asserted that Ghana’s economy has successfully overcome recent challenges, positioning itself for sustainable growth to benefit Ghanaians. In a Facebook post dated January 19, Dr Kumah highlighted the unanimous approval of Ghana’s request for debt treatment under the G-20 Common Framework. This, he believes, forms the foundation for […] The post We’ve
Finance Minister Ken Ofori-Atta has expressed welcome the International Monetary Fund’s release of the second tranche of Ghana’s extended credit facility with the Bretton Woods institution. According to the Finance Minister, the approval of an additional $600 million for Ghana’s bailout programme signifies the country’s progress in its economic reform trajectory. “Earlier today, the IMF […] The post Release
The International Monetary Fund has commended Ghana for successfully achieving all targets set for the $3 billion three-year extended credit facility. In a statement issued on Friday, January 19, 2024, the IMF highlighted that “Ghana’s performance under the program has been strong. All quantitative performance criteria for the first review and almost all indicative targets […] The post Ghana’s
Kristalina Georgieva The International Monetary Fund (IMF) board has expressed its satisfaction with the assurances received from Ghana’s external creditors. Managing Director of the IMF, Kristalina Georgieva, who revealed Read More... The post IMF Boss Happy With Ghana’s Progress
In light of the significant opportunities that Artificial Intelligence (AI) holds for fostering sustainable growth and development in Africa, government has taken steps to oversee and regulate the technology’s utilisation within the country. Currently, improved digital connectivity, growing data volumes, advanced algorithms and enhanced computing power are driving technological progress in AI. Against this background, […] The post
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