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Business News of Tuesday, 15 October 2019


Ofori-Atta leads gov’t delegation to 2019 IMF/World Bank annual meetings in Washington

Ken Ofori-Atta, Minister for Finance is leading Ghana’s delegation to the IMF/World Bank Annual Meetings to be held in Washington DC, from October 14th to 20th , 2019, a statement issued by the Finance Ministry on Monday 14th October, 2019, has said.

The delegation includes the Governor of the Bank of Ghana, the Chairman of the Finance Committee in Parliament, some Deputy Ministers and other officials from the Finance Ministry and the Bank of Ghana.

Mr Ofori-Atta who is also the current Chairman of the Development Committee and the Africa Caucus will lead the Caucus to present their views and concerns to the world body.

The statement said last August, Ghana hosted the Africa Caucus meeting in Accra during which the caucus among other things committed to pursue macroeconomic frameworks, policies and reforms that support private sector investment, women empowerment, and sustainable growth.

The Caucus’s “Accra declaration” issued after the Caucus meeting, demanded that the Bretton Woods Institutions “support reforms and investments to foster private sector development and facilitate entrepreneurship and innovation, particularly in agribusiness, manufacturing, industrial parks, renewable energy, housing and digitization.”

While in Washington, the Ghanaian delegation will participate in the Africa Caucus meeting with David Malpass and Kristalina Georgieva, the President of the World Bank, and the IMF Managing Director, respectively. They will also meet with Jingdong Hua, Vice President and Treasurer of the World Bank Group, and Hafez Ghanem, the World Bank Vice President for Africa.

The delegation will attend the Commonwealth Finance Ministers’ Meeting, attend the G24 Meetings, and the launch of the Regional Economic Outlook for Sub-Saharan Africa. Aside from the obligatory meetings of the IMF and the World Bank, the delegation will hold bilateral discussions with partner countries, financial institutions and private sector investors and the rating agencies

About the Annual Meetings

The Annual Meetings of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) bring together ministers of finance, central bankers, and development partners, parliamentarians, private sector executives, representatives from civil society organizations, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial system.