• 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

IMF Open to Ghana Funding Rework if Reforms Aren’t Derailed

10 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
92
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

IMF Open to Ghana Funding Rework if Reforms Aren’t Derailed

The International Monetary Fund is open to renegotiating Ghana’s $3 billion financing program with the incoming administration provided accompanying reforms aren’t jeopardized.

“IMF-supported programs are developed collaboratively with each country’s authorities,” a spokesperson for the Washington-based lender said in response to emailed questions. “Any changes must ensure that the economic objectives of the reform programs remain achievable.”

The IMF’s primary focus under the current extended-credit facility is to support Ghana in restoring macroeconomic stability and ensuring debt sustainability, while fostering long-lasting and inclusive growth, the spokesperson added.

Ghana embarked on a debt-restructuring and sought IMF help when it could no longer service its loans. State debt ballooned to almost 100% of gross domestic product by the end of 2022.

The debt crisis fanned inflation, which reached 54.1% two years ago before declining to 23% at the end of November. The nation’s currency, the cedi, has depreciated about 60% in the last four years, and the central bank increased interest rates to a two decade-high of 30% before lowering it to 27%.

Under the IMF program, which began in May 2023, the government must achieve a primary budget surplus of 0.5% of gross domestic product by the end of this year. It also needs to achieve a debt-to-GDP ratio of 55% by 2028.

RelatedPosts

Engineers & Planners Reconstitutes Board and Management of Azumah Resources After Securing Ownership of Gold Mining Firm

Ghana’s Current Crude Output Far Below Projected 500,000 bpd – Dr Theo Acheampong

World Bank Reaffirms $4.5bn Support for Ghana’s Development Priorities Under Country Partnership Framework

John Mahama, who won presidential elections last weekend to reclaim a post he last held eight years ago, has said he intends renegotiating the IMF package to smooth out the repayment of restructured loans and reduce the tax burden on corporates. He’s also pledged to prioritize stability over economic growth after he takes office on Jan. 7.

“We do not expect the NDC to walk away from the current IMF programme,” Barclays Plc said in a note to clients. “It seems reasonable to expect a renegotiation to help align the NDC’s economic preferences and tactical macro signaling with the program.”

Mahama beat Vice President Mahamudu Bawumia in the election, winning 56.6% of the vote. His margin of victory was the biggest in two decades and illustrated the public anger over soaring living costs and President Nana Akufo-Addo’s management of the debt crunch.

Source: bloomberg
Via: norvanreports
Tags: debt-restructuringGhana Funding ReworkIMFIMF Open to Ghana Funding Rework if Reforms Aren’t Derailed

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Equities Extend Rally as GSE Index Closes at Fresh High

T-Bill Undersubscribed as Gov’t Manages to Mobilize GHS 2.8bn

GIPC CEO Promotes EV Investments in China

China’s Role in Africa’s Green Energy Future

Ghana, Turkey Renew Commitment to Achieve $1bn Trade Target Before 2027

Prof Bokpin Urges Gov’t to Boost Export Competitiveness to Benefit from China’s Zero-Tariff Policy

Trending

Business

Engineers & Planners Reconstitutes Board and Management of Azumah Resources After Securing Ownership of Gold Mining Firm

October 20, 2025

Engineers & Planners Reconstitutes Board and Management of Azumah Resources After Securing Ownership of Gold Mining Firm...

Ghana’s Current Crude Output Far Below Projected 500,000 bpd – Dr Theo Acheampong

October 20, 2025

World Bank Reaffirms $4.5bn Support for Ghana’s Development Priorities Under Country Partnership Framework

October 20, 2025

Equities Extend Rally as GSE Index Closes at Fresh High

October 20, 2025

T-Bill Undersubscribed as Gov’t Manages to Mobilize GHS 2.8bn

October 20, 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.