Thursday, February 9, 2023
Rainbow Radio
  • Home
  • General News
  • Governance
  • Sports
  • Politics
  • Health
  • Entertainment
  • Economy
  • Home
  • General News
  • Governance
  • Sports
  • Politics
  • Health
  • Entertainment
  • Economy
No Result
View All Result
Rainbow Radio Online
Home Business

IMF to return to Ghana for the second round of assessment

September 19, 2022

The International Monetary Fund will deploy another mission to Ghana in the coming weeks for another round of assessment following Ghana’s request for an economic bailout.

Gerry Rice, the International Monetary Fund’s Director of Communications, recently revealed this during a media engagement.

RelatedPosts

AOMC admonishes gov’t introduce fair mechanism to distribute fuel under gold for oil policy

Claims by GRA that we’re evading taxes and Rambo-style arrests of managers are regrettable – Maxmart

The law will deal with you ruthlessly if you evade taxes – GRA to business owners

“Ghana has, as you probably know, requested a program from the IMF. We had an IMF staff team in Accra in July [2022] to begin initial discussions with the Ghanaian authorities. And we characterized that mission as constructive, kickstarted the process, and laid the groundwork for engagement, which now continues.”

“Our Mission Chief for the IMF also recently visited Accra, again, to meet with key counterparts. And we’re hopeful of another visit in the coming weeks. I don’t have a date for you, but [it will surely be] in the coming weeks,” added.

An IMF staff team led by Carlo Sdralevich visited Accra from July 6 to 13, 2022, to assess the current economic situation and discuss the broad lines of the government’s Enhanced Domestic Program, which could be supported by an IMF lending arrangement.

The IMF team met with H.E. Vice President Bawumia, Finance Minister Ofori-Atta, and Bank of Ghana Governor Addison.

The team also met with the Finance Committee of Parliament, civil society organizations, and development partners such as UNICEF and the World Bank to discuss social spending.

The IMF in its assessment said

“Ghana is facing a challenging economic and social situation amid an increasingly difficult global environment. The fiscal and debt situation has severely worsened following the COVID-19 pandemic. At the same time, investors’ concerns have triggered credit rating downgrades, capital outflows, loss of external market access, and rising domestic borrowing costs.

“In addition, the global economic shock caused by the war in Ukraine is hitting Ghana at a time when the country is still recovering from the Covid-19 pandemic shock and with limited room for maneuver. These adverse developments have contributed to slowing economic growth, accumulation of unpaid bills, a large exchange rate depreciation, and a surge in inflation.

“The IMF team held initial discussions on a comprehensive reform package to restore macroeconomic stability and anchor debt sustainability. The team made progress in assessing the economic situation and identifying policy priorities in the near term. The discussions focused on improving fiscal balances in a sustainable way while protecting the vulnerable and poor; ensuring credibility of the monetary policy and exchange rate regimes; preserving financial sector stability; and designing reforms to enhance growth, create jobs, and strengthen governance.

“IMF staff will continue to monitor the economic and social situation closely and engage in the coming weeks with the authorities on the formulation of their Enhanced Domestic Program that could be supported by an IMF arrangement and with broad stakeholders’ consultation

“We reaffirm our commitment to support Ghana at this difficult time, consistent with the IMF’s policies.

“Staff express their gratitude to the authorities, civil society, and development partners for their constructive engagement and support during the mission.”

By: Rainbowradioonline.com/Ghana

ShareTweetShareShare

Related Posts

uo

AOMC admonishes gov’t introduce fair mechanism to distribute fuel under gold for oil policy

February 8, 2023
FB_IMG_1675749417340

Claims by GRA that we’re evading taxes and Rambo-style arrests of managers are regrettable – Maxmart

February 7, 2023
GRAA

The law will deal with you ruthlessly if you evade taxes – GRA to business owners

February 2, 2023
Screenshot_20230202-133932

Five branch managers of Koala, Max Mart and The Palace Mall arrested over alleged tax breaches

February 2, 2023
1517931856-18-porkland

Importation of pork from the USA will collapse Ghana’s poultry industry – Association

February 1, 2023
GRAA

Managers of Max Mart, Palace Mall, Second Cup Coffee arrested for bypassing E-VAT System

January 31, 2023

Recent News

FB_IMG_1675330649813

NDC Suame Youth Organizer detained after turning himself in to the Police

February 8, 2023
do do

Bawku Conflict: GAF will treat those involved as pure criminals – Defence Minister

February 8, 2023
bpp

14 suspects arrested in connection with disturbances at NPP’s constituency elections at Enchi

February 8, 2023
court_14

Ablakwa and Kusi Boateng: Your dispecable attempt to gag MPs would not be tolerated – Minority to Judiciary

February 8, 2023
  • Trending
  • Comments
  • Latest
qz

The appreciation of the cedi against the dollar will be short-lived so don’t over jubilate – Haruna to gov’t

December 17, 2022
z455

Bui Power Authority calls for partnership to do more on climate change program at COP27

November 22, 2022

Rainbow Radio expands its platform presence on 92.4Fm in UK

September 5, 2022
zz

Family of Asuma Banda calls on Prez, Mahama, Chief Imam to intervene so their brother is sent to Kintampo

December 7, 2022

Hello world!

FB_IMG_1675330649813

NDC Suame Youth Organizer detained after turning himself in to the Police

travel4

Washington prepares for Donald Trump’s big moment

travel1

CS:GO ELeague Major pools and tournament schedule announced

FB_IMG_1675330649813

NDC Suame Youth Organizer detained after turning himself in to the Police

February 8, 2023
do do

Bawku Conflict: GAF will treat those involved as pure criminals – Defence Minister

February 8, 2023
bpp

14 suspects arrested in connection with disturbances at NPP’s constituency elections at Enchi

February 8, 2023
court_14

Ablakwa and Kusi Boateng: Your dispecable attempt to gag MPs would not be tolerated – Minority to Judiciary

February 8, 2023

Stay Connected test

  • 121 Followers
  • 20.2k Followers
  • 185k Subscribers
  • 23.7k Followers
  • 99 Subscribers
Rainbow Radio Online

© 2022 Rainbow Radio International

Navigate Site

  • General News
  • World
  • Sports
  • Business
  • Entertainment
  • Politics
  • Health
  • Opinion
  • Economy
  • Odd News
  • Culture
  • Lifestyle
  • Lifestyle
  • Governance
  • Technology

Follow Us

No Result
View All Result

© 2022 Rainbow Radio International

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version