Tag Archives: IMF

IMF approves $224.8 mln in extra credit for Ivory Coast

imf - Ivory Coast

The International Monetary Fund’s Executive Board approved $224.8 million in additional credit for Ivory Coast under an existing lending framework, it said in a statement on Monday. “The Board … approved an augmentation of access under the two arrangements by about US$224.8 million or 25 percent of the country’s quota,” the statement said. Ivory Coast has emerged from a 2011 ...

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Extending IMF deal: Ghana, IMF to decide next month

IMF

Government’s decision on a possible extension of the IMF deal is likely to be concluded next month. This is the indication from the Chairman of Parliament’s Finance Committee, Dr Mark Assibey Yeboah. His comments come at a time that discussions on a possible extension of the deal have been on top of the agenda between the government and the IMF. ...

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Revenue projections for 2017 are ‘optimistic’ -IMF

imf - Ivory Coast

Ghana’s economy growth is due to pick up in 2017 and inflation is coming down, but the government’s revenue projections for the year are “optimistic”, International Monetary Fund mission chief Annalisa Fedelino said on Thursday. Ghana is following a three-year IMF programme worth around $918 million that aims to stabilise government finances and restore rapid economic growth, which could enable ...

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ICU demands clarification on extending IMF deal

icu

The Industrial and Commercial Workers Union (ICU) has implored government not to extend its Extended Credit Facility program with the IMF to December 2018. The ICU says the move could cause a further restriction in the economy and hinder job opportunities. Ghana entered into a three-year program with the IMF on April 2015 for a total amount of 918 million US ...

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Renegotiate aspects of Ghana’s IMF deal – Kusi

Kusi

The Executive Director of the Institute of Fiscal Studies (IFS), Professor Newman Kusi, has called for the renegotiation of aspects of Ghana’s Extended Credit Facility (ECF) agreement with the International Monetary Fund (IMF). According to him, the programme must be allowed to run to its fullest, “however there is the need to renegotiate some aspects.” Prof Kusi made the call ...

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IMF hints at bailout renegotiation with Government

imf - Ivory Coast

The International Monetary Fund (IMF) has given an indication it is open to renegotiating some success benchmarks of its ongoing 3-year External Credit Facility (ECF) programme with the government of Ghana, following government’s inability to keep to the 5.2percent fiscal deficit target. In an email response to questions posed by the B&FT, a spokesperson for the Fund in Washington said ...

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Oil to boost economy by 7.5% in 2017 – IMF projects

The International Monetary Fund (IMF) projects that Ghana’s economy will grow 7.5 percent in 2017 as the Tweneboa, Enyenra and Ntomme (TEN) oil field begins full production. To date, the Tweneboa, Enyenra and Ntomme (TEN) field has produced about 800,000 barrels of oil, and the gas export to the Gas Processing Plant (GPP) is expected to begin in the 1st ...

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Ghana will be fastest growing African economy in 2017

A leading African economic think tank expects Ghana to have economic growth of 8.7 percent in 2017, the fastest of 54 countries ranked on the continent. Cote d’Ivoire (8.3), Congo (8.0), Ethiopia (7.7) and Mozambique (7.5) rounded out the top five, according to the African Economic Outlook (AEO), a partnership between the African Development Bank, Organization for Economic Cooperation and ...

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Sub-Sahara Africa’s economy to slow at 1.5% – IMF

imf - Ivory Coast

The average growth for the Sub-Sahara Africa region is projected at a low 1.5 per cent, and it is the lowest in 20 years, the International Monetary Fund (IMF) has said. According to the Regional Economic Outlook, sub-Saharan Africa Multispeed Growth Report, published in October 2016, the IMF believes that growth in sub-Saharan Africa is set to slow to its ...

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