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Business News of Tuesday, 22 May 2018


IMF urges Ghana to reduce debt stock

Ken Ofori-Atta, Finance Minister Ken Ofori-Atta, Finance Minister

The International Monetary Fund (IMF) is urging government to work to further reduce the country’s debt.

While commending the managers of the economy for reducing the debt to GDP rate to 60 percent as at February 2018, the Country Director of IMF Natalia Koliadina said the country’s public debt was still significant.

Speaking on a panel at the Third CEO Summit in Accra, Madam Koliadina said Ghana beyond Aid would be difficult to achieve if Ghana’s debt stock is not controlled effectively.

“Last year was the first time that the government was able to record a primary surplus. The surplus allowed debt to GDP ratio to decline, so now debt is on a declining path. This is a major achievement, but of course it did not come without its cost. This recovery process is only the beginning for Ghana because much more needs to be done. And the focus now is on making sure that macro-economic stability is continued and maintained in the future outside the IMF supported programs.”


The 2-day summit which is being held on May 21 and 22, 2018 will serve as the biggest gathering of Ghana’s CEO’s.

This year’s summit under the theme “Leadership, Innovation and Investment for Business and Economic Transformation”, was organized under the distinguished patronage of President Nana Akufo-Addo.

The 2-day summit will be used to address critical issues affecting Ghana’s private sector through presentations by international experts such as Roger Harrop (International Speaker) as well as high-level panel discussions on topics such as “Growth in Ghana: Rising or Falling”, “Evolving Trends in Governance and Board Leadership”, “What does the fourth industrial revolution mean to Ghana” among others.

The 3rd Ghana CEO Summit is a platform which provides an opportunity for CEO’s and other business leaders to meet, network and form partnerships for growth.

The CEO’s Summit since it begun has played host to more than 1200 attendees from about 1,000 participating organizations.

The 3rd Ghana CEO Summit is organized by the Chief Executives Network Ghana Limited in partnership with the Ghana Investment Promotion Centre (GIPC)

and Deloitte.