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Business News of Sunday, 10 May 2020


Reports we shared different macroeconomic data with IMF are false - Finance Ministry

The Ministry of Finance has said widespread reports that it shared different figures with the International Monetary Fund (IMF) and to Parliament in the process of contracting the US$1 billion rapid loan facility are false and misleading.

In a statement issued by the official website of the ministry, said, “Our attention has been drawn to a publication by of the Media Foundation for West Africa suggesting that the government has shared different macroeconomic data with Ghanaians and the International Monetary Fund (IMF). We wish to state that this assertion is false and misleading,” the Ministry noted.

“The first inaccuracy in the said publication was taking the January to September figures, that is the third quarter figures reported in our budget statements and comparing them with the full-year figures reported by the IMF,” the statement explained.

Prior to this, some fact-checking organizations and civil society organizations indicated there were some disparities in the figures of Gross Domestic Product (GDP) Deficit, Primary Balance, Current Account Balance, and Gross International Reserves figures earlier presented by the Finance Minister, Ken Ofori-Atta to Parliament.

Read the Ministry's full statement here:

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