The Government says it is encouraged with the progress so far made in its negotiations with the International Monetary Fund (IMF) for a loan support for its homegrown economic programme. The loan facility is to help Ghana navigate through the current economic hardship and improve its fiscal balances sustainably. Mr…
The rippling effect of Ghana’s debt restructuring will not only be felt by financial institutions but businesses and households. This is the “reality” that Ghana finds itself, the Policy Initiative for Economic Development (PIED), an economic policy Think Tank, said as the country looks to restructure its debt with the…
The Government has expressed its dissatisfaction with the Standard and Poor’s ("S&P") Global Ratings for its recent downgrade of Ghana’s foreign and local currency credit ratings from 'B-/B' to 'CCC+/C' with a negative outlook. The decision for the downgrade was mainly attributed to the intensifying financing and external pressures on…
Government has made a downward revision of its 2022 macro-fiscal targets to reflect unfavourable changes in the macroeconomic environment, Mr Ken Ofori-Atta has said. The Minister of Finance, during the Mid-Year Budget Review presentation to Parliament, explained that the changes which occurred over the past six months were caused by…
The Government is set to initiate talks with the International Monetary Fund (IMF) for a bailout following severe challenges to Ghana’s economy. A statement signed by Mr Kojo Oppong Nkrumah, the Information Minister, and copied to the Ghana News Agency in Accra, on Friday, said: "The President of the Republic,…