• 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

US government will support approval of Ghana’s IMF request

3 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
332
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

US government will support approval of Ghana’s IMF request

The United States government says it will support Ghana’s application for an economic bailout with the International Monetary Fund at the Board level, suggesting that the austerity plan is the most feasible way out for Ghana’s economic recession.

Ghana’s economy is currently experiencing soaring levels of inflation and its associated spikes in cost of living.

In the wake of the dwindling level of the country’s foreign reserve, the Finance Ministry is currently rolling out a debt exchange programme as part of moves to save the economy from collapsing.

Joy News Sources have revealed the Fund (IMF) and Ghana are expected to reach a staff-level agreement on the loan deal by Tuesday.

A board-level approval remains the only hurdle for Ghana to access the much-needed 3 billion cedis from the Bretton Woods institution.

Speaking on how the US government intends to cooperate with Ghana on moving its economy out of recession in an interview, American Ambassador to Ghana, Virginia Palmer said, “the current economic crisis requires IMF assistance. That’s why those international Financial Institutions were created.”

RelatedPosts

Ghana Football Association Introduces Minimum Salaries: GHS 1,500 for Premier League, GHS 700 for Division One and Women’s Leagues

CEOs, Executives, and Entrepreneurs Set to Gather for Transformative Leadership Dialogue in Ghana

Morocco Breaks Into Africa’s Gold Powerhouses With Discovery Of High-Grade Deposits

“So we’ve urged the government of Ghana to negotiate with the IMF with urgency and then as a Board member, we’ll support those programmes. Further to that, we work with Ghanaian businesses and the Ghanaian government to strengthen the business environment so that Ghana lives up to its international reputation.”

The United States remains the country with the Highest Special Drawing Rights of about $118 billion

Meanwhile, Ghana is expected to reach a staff-level agreement with the International Monetary Fund by Tuesday, December 13, 2022.

According to Reuters, though the Fund has not responded for comment, three sources with knowledge of the ongoing talks have confirmed.

A Staff-Level agreement will pave way for the Board of the Fund to negotiate and probably approve a programme for the country.

In recent days, the cedi has been improving in value against the US dollar, indicating that a deal between Ghana and the Fund could be reached soon.

Source: myjoyonline
No Result
View All Result

Highlights

Repealing Ghana’s Forest-Reserve Mining Regulations: Navigating the Path From L.I. 2462 to L.I. 2501 and Beyond

Gov’t Moves to Merge Telecel Ghana and AT Ghana to Stem Losses, Protect Jobs

GTDC Launches New Tourism Platforms and Awards Scheme to Boost Sector Competitiveness

US Open: Osaka Reaches Last Four; Anisimova Upsets Swiatek to Reach Semis

GSE Composite Index Advances as GCB Surpasses 70% YTD Return

FIFA Unveils Dynamic Pricing for 2026 World Cup Tickets Ranging from $60 to $6,730

Trending

Features

Ghana Football Association Introduces Minimum Salaries: GHS 1,500 for Premier League, GHS 700 for Division One and Women’s Leagues

September 4, 2025

Ghana Football Association Introduces Minimum Salaries: GHS 1,500 for Premier League, GHS 700 for Division One and...

CEOs, Executives, and Entrepreneurs Set to Gather for Transformative Leadership Dialogue in Ghana

September 4, 2025

Morocco Breaks Into Africa’s Gold Powerhouses With Discovery Of High-Grade Deposits

September 4, 2025

Repealing Ghana’s Forest-Reserve Mining Regulations: Navigating the Path From L.I. 2462 to L.I. 2501 and Beyond

September 4, 2025

Gov’t Moves to Merge Telecel Ghana and AT Ghana to Stem Losses, Protect Jobs

September 4, 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.