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  Ghana has not been downgraded from a middle income to a low-income status, the International Monetary Fund’s country representative has told asaaseradio. In a tweet on Monday 12 April, Dr Albert Touna-Mama described reports suggesting that Ghana has be reclassified as a low-income country by the IMF in its April Fiscal Monitor Report as “fake news.”  Per official documents, the generally accepted classification of countries by income level is done by the World Bank. The Bank assigns the world’s economies to four income groups namely low, lower-middle, upper-middle, and high-income countries. The classifications are updated each year on 1 July and are based on GNI per capita in current USD (using the Atlas method exchange rates) of the previous year.

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