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Business News of Monday, 27 August 2018

Source: Bright Amaning

IMF lauds government; says investors have greater confidence in current policies

Country representative for the International Monetary Fund (IMF) Dr. Natalia Koliadina has indicated that investors are now confident in policies by the government.

Speaking to GNTV’s Bright Nana Kwesi Amaning on ‘On One With Amaning’ she explained that, the current government has the capacity to achieve stable and strong economy than what it was before as there has been growth in the country’s economic indicators.

In March 2018 the International Monetary Fund asked Ghana to legislate new measures to boost revenues by at least 0.5 percent of gross domestic product before it reviews a $918 million credit before April 2018.

They also charged the West African nation to outline plans to clean up the financial sector and show stronger commitment to cut debt, including limiting its next Eurobond for budget support to $500 million.

On the 22nd of August 2018, IMF confirmed that investors are now confident in Ghana’s economy which sends a good sign of better days ahead.

According to her, financial imbalances were accumulated in the previous administration which led to the alarming increase in debts and a rippling decline in the country’s economy.

In February 2017, President Nana Akufo-Addo revealed that Ghana missed nearly all targets set for the country under the International Monetary Fund (IMF) Extended Credit Facility program of US$918 million when the previous government was in power.

He explained that the government at that time missed all the targets due to financial and fiscal indiscipline in the management of public funds.