• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, July 2, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

IMF Denies Revising Ghana’s Growth Downward

October 13, 2023
Stephen M.Cby Stephen M.C
in Economy
0
IMF Denies Revising Ghana’s Growth Downward

IMF Resident Representative in Ghana, Dr Leandro Medina

The International Monetary Fund’s (IMF) has denied revising Ghana’s growth rate from 1.5 per cent to 1.2 per cent.

The Fund’s Resident Representative in Ghana, Dr. Leandro Medina, clarified in a statement stressing that the recent data release was erroneous.

“The latest IMF World Economic Outlook projection (1.2 per cent growth for 2023) is based on an old vintage of Fund staff projections. In particular, it does not take into account the recent data releases that showed a higher growth rate than expected at the beginning of the programme (averaging 3.2 per cent for the first two quarters).

“At the current juncture, and based on the findings of the first ECF review mission that just ended last week, IMF staff assessment is that the growth projection for 2023 will be revised up from the 1.5 percent previously assumed.”

Dr. Leandro Medina

Meanwhile, Ghana’s Ministry of Finance has expressed gratitude to the IMF for its continued support to Ghana and also for urging the country’s bilateral creditors to promptly agree on debt relief terms to facilitate Ghana’s access to the second tranche of the $3 billion from the Bretton Wood Institution.

RelatedPosts

Ghana Edges Closer to Debt Relief as Finance Minister Hails “Monumental Step” After China Talks

Geopolitical Tensions Could Fuel Inflation and Weaken the Cedi- Seth Terkper Sounds Alarm

Cedi’s Year-to-Date Surge Halved in June, Yet Analysts See Optimism Ahead

Recent Staff-Level Agreement On IMF Programme’s First Review

Following the recent review of Ghana’s bailout package, IMF boss Kristalina Georgieva tweeted saying “Great to meet @MoF_Ghana Min Ofori-Atta & @thebankofghana Gov Addison at #IMFMeetings. Congrats on the recent staff-level agreement on the Fund-supported programme’s first review”.  She added saying “Counting on bilateral creditors reaching agreement on debt relief soon to move the review forward”.

Expressing gratitude to the IMF for its crucial support, Ghana’s Finance Minister Ken Ofori-Atta tweeted in response saying, “Great meeting with @KGeorgieva during the #IMFMeetings. Discussed recent achievement of SLA for first review. Grateful for strong IMF support, and calling on bilateral creditors to agree on debt relief terms as quickly as possible. #GhanaRising”.

The IMF, awaiting the outcome of Ghana’s engagement with bilateral creditors, emphasised the necessity of resolving debt relief terms before releasing the next tranche of the $3 billion facility.

The International Monetary Fund (IMF) and Ghana have reached a staff-level agreement regarding economic policies and reforms to conclude the first review of Ghana’s three-year program under the Extended Credit Facility.

According to the fund, performance with respect to the program’s targets and reform objectives has been very strong. As such, Ghana will access to about US$600 million in financing once the review is approved by IMF Management and formally completed by the IMF Executive Board. To ensure the timely completion of the review, the country needs official creditors to quickly reach an agreement on a debt treatment in line with the financing assurances they provided in May 2023.

Meanwhile, the IMF staff held meetings with Vice President Bawumia, Finance Minister Ofori-Atta, and Bank of Ghana Governor Addison, and their teams, as well as representatives from various government agencies. The IMF team also engaged with other stakeholders. Staff would like to express their gratitude to the Ghanaian authorities and other counterparts for their continued open and constructive engagement.

READ ALSO: Ofosu-Kwakye Demands Accountability Of VRA In Tongu Districts Floods

Tags: Dr. Leandro MedinaExtended Credit FacilityGhana’s Finance Minister - Ken Ofori-AttaIMF Denies Revising Ghana’s Growth DownwardIMF World Economic Outlook projection
Please login to join discussion
Previous Post

Ofosu-Kwakye Demands Accountability Of VRA On Tongu Districts Floods

Next Post

Gallant Echoes Call for Palestinians To Move To Southern Gaza

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Communication Minister Engages MTN Over Data Price Glitch and Delays
General News

Communication Minister Engages MTN Over Data Price Glitch and Delays

July 1, 2025
Kepa Arrizabalaga
Uncategorized

Arsenal Signs Kepa from London Rival

July 1, 2025
Hamza Suhuyini Sayibu, President, GBA
General News

Why Hasn’t GBA Sued Over Chief Justice Suspension?

July 1, 2025
President John Dramani Mahama
General News

Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer

July 1, 2025
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Banking

Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating

July 1, 2025
Gas Flaring Waste
Extractives/Energy

Nigeria’s Gas Production Dips in May, Fuel Supply Drops to 62% 

July 1, 2025
Communication Minister Engages MTN Over Data Price Glitch and Delays
General News

Communication Minister Engages MTN Over Data Price Glitch and Delays

by Silas Kafui AssemJuly 1, 2025
Kepa Arrizabalaga
Uncategorized

Arsenal Signs Kepa from London Rival

by Evans Junior OwuJuly 1, 2025
Hamza Suhuyini Sayibu, President, GBA
General News

Why Hasn’t GBA Sued Over Chief Justice Suspension?

by Silas Kafui AssemJuly 1, 2025
President John Dramani Mahama
General News

Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer

by Evans Junior OwuJuly 1, 2025
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Banking

Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating

by Stephen M.CJuly 1, 2025
Gas Flaring Waste
Extractives/Energy

Nigeria’s Gas Production Dips in May, Fuel Supply Drops to 62% 

by Prince AgyapongJuly 1, 2025
Communication Minister Engages MTN Over Data Price Glitch and Delays
Kepa Arrizabalaga
Hamza Suhuyini Sayibu, President, GBA
President John Dramani Mahama
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Gas Flaring Waste
[/vc_row_inner]

Recent News

  • Communication Minister Engages MTN Over Data Price Glitch and Delays
  • Arsenal Signs Kepa from London Rival
  • Why Hasn’t GBA Sued Over Chief Justice Suspension?
  • Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer
  • Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

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

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.