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Tag: Economy

by Samuel AnsongNo Comments
We reaffirm our commitment to support Ghana at this difficult time – IMF

We reaffirm our commitment to support Ghana at this difficult time – IMF

Ghana News, International
The International Monetary Fund (IMF) team led by Carlo Sdralevich that visited the country to assess the prevailing economic situation after government requested for support has concluded its evaluation exercise. In a statement issued on Wednesday, the team expressed the commitment of the Bretton Woods institution to support Ghana. “We reaffirm our commitment to support Ghana at this difficult time, consistent with the IMF’s policies. 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,” the statement noted. The IMF acknowledged the challenging situation in whic...
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by Samuel AnsongNo Comments
Ghana Engages IMF For Economic Support

Ghana Engages IMF For Economic Support

Ghana News
President Nana Addo Dankwa Akufo-Addo has authorized Finance Minister, Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic programme put together by the government of Ghana. A statement issued by the Ministry of Information said this follows a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund. “At a meeting on June 30th, 2022, cabinet indicated its support for the decision,” the statement said. “The engagement with the IMF will seek to provide balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the Covid-19 pandemic and, recently, t...
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by Samuel AnsongNo Comments
Fishers differ on closed season

Fishers differ on closed season

Ghana News
Fishers in coastal communities have expressed mixed reactions to the upcoming closed fishing season, citing a number of factors, especially the current economic challenges facing the country. While some of them have called for the scraping of the closed season because it is unproductive, others have asked that it must be suspended as a result of the harsh economic conditions. On the other hand, some of them have indicated that the closed season is a good intervention but it needs proper implementation. Speaking with the Daily Graphic, the fisher folks said while they considered August the most appropriate period to close the sea, the government should also make cash payments to fishers to offset the anticipated revenue loss during the sit-home period, in the face of the current ec...
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by Samuel AnsongNo Comments
Cabinet Retreat Firms Up Major Economic Reliefs

Cabinet Retreat Firms Up Major Economic Reliefs

Ghana News
President Nana Addo Dankwa Akufo-Addo has sanctioned some major reliefs as part of efforts to recover the economy and set it back to its pre-COVID-19 levels. The reliefs include the opening of the country’s land borders, the easing of general COVID-19 restrictions and measures to arrest the depreciation of the cedi. There are also measures to tackle rising fuel prices occasioned by the global economic turmoil brought on by the ongoing Russia-Ukraine conflict and measures to address the persistent rise in the prices of goods and services. Cabinet retreat The reliefs were sanctioned at a crunch three-day Cabinet retreat that took place at Peduase in the Eastern Region over the weekend. Easing burden In a tweet last Thursday, the Minister for Information, Kojo Oppong Nkrumah...
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