• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana’s 2024 elections may test fiscal discipline under new IMF program

2 years ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
90
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana’s 2024 elections may test fiscal discipline under new IMF program

Ghana’s presidential election next year presents a test for whether the government will stick to economic reforms outlined under a $3 billion International Monetary Fund bailout package.

The West African nation is scheduled to hold elections in December 2024. That’ll be midway through the three-year program approved last month that provided an immediate disbursement of $600 million, with further payments to be made subject to regular reviews by the fund.

“One of the weaknesses in Ghana over the years has been these election-related spending cycles,” Abebe Aemro Selassie, who heads the IMF’s Africa Department, said in an interview at the Africa CEO Forum in Abidjan, Ivory Coast. “That I think has done a lot to undermine confidence in public accounts in Ghana.”

President Nana Akufo-Addo, whose government negotiated the IMF funding package, is serving his final term in office. Next year’s elections will be contested between a yet-to-be identified candidate from the ruling party, and the main opposition leader, John Mahama, who led the country from 2012 to 2017.

Ghana’s dollar debt gave investors a 7% return last month as the government clinched a deal with the IMF on May 17. That return compared to an average loss of 0.8% for emerging and frontier peers in a Bloomberg index.

Akufo-Addo signaled last month that his administration will keep a tight rein on expenditure in the months leading up to the vote.

RelatedPosts

Fuel Prices Set to Rise Marginally at the Pumps From Today

Failure to Enforce Mining Laws Driving Food Insecurity, Says EGP’s Abdul Karim Mohammed

GSE Composite Index Climbs to 8,168.35 Points on Gains in FML, ETI and SOGEGH

The government plans “a very disciplined approach to the implementation of the IMF program” over the next 18 months as it seeks to “bring some growth back into the economy, some relief back to our population” in order to convince voters that it’s worth continuing to support his party, he said in an interview May 24 at the Qatar Economic Forum.

Ghana is a regular client of the IMF — this is its 17th request to the fund. The country ended its last program in 2019 with a waiver from the fund. The government’s decision to aggressively tap Eurobond markets in 2020, so soon after that program ended, spooked investors and led the agencies to revisit their ratings. Ghana was priced out of global markets last year and has since suspended most external debt payments while it seeks to restructure a chunk of its $49 billion of public liabilities.

“We do hope that particularly in a context when the economic situation is so dire, that the polity will recognize the importance of the reforms that are on the table and continue to advance that,” Selassie said.

Source: bloomberg
Via: norvanreports
Tags: fiscal disciplineGhana's elections may test fiscal discipline under new IMF programIMF
No Result
View All Result

Highlights

Global Crude Exports Set to Hit All-Time High in October

BoG Raises GHS 7.74bn From 56-Day Bills at 21.4% Yield

10 Most Indebted Countries as Global Debt Soars to $150 Trillion

WAFU B U17 BOYS: Black Starlets Ease Past Nigeria to Book U17 AFCON Ticket

UEFA Champions League: Galatasaray Shocks Liverpool, Mbappé bags Hat-trick as Real Madrid Run Riot

Finance Minister Strikes Upbeat Tone About Economy as IMF Begins Fifth Programme Review

Trending

Business

Fuel Prices Set to Rise Marginally at the Pumps From Today

October 1, 2025

Fuel Prices Set to Rise Marginally at the Pumps From Today The price of petroleum products is...

Failure to Enforce Mining Laws Driving Food Insecurity, Says EGP’s Abdul Karim Mohammed

October 1, 2025

GSE Composite Index Climbs to 8,168.35 Points on Gains in FML, ETI and SOGEGH

October 1, 2025

Global Crude Exports Set to Hit All-Time High in October

October 1, 2025
Bank of Ghana

BoG Raises GHS 7.74bn From 56-Day Bills at 21.4% Yield

October 1, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.