Bussiness
Ghana need IMF badly, return to Fund will improve government’s fiscal position – Deloitte
Auditing and accounting firm, Deloitte Ghana, has indicated that Ghana’s return to the IMF is expected to improve the government’s fiscal situation and re-instill investor confidence.
It therefore says the government need the Fund’s programme badly.
“Based on history, the fund may require government to improve revenue which may be in the form of new taxes, which is likely to worsen the plight of Ghanaians especially within this current economic climate”, it stated in its review of the 2023 Budget.
Some conditionalities may require government to implement expenditure cutting measures including halting new employment and ongoing & new capital projects in the public sector.
This, it said has the effect of curtailing government’s ability to create jobs, which will further worsen the plight of the theming unemployed youth, if not properly managed.
Deloitte Ghana further said that the IMF programme is expected to increase the country’s foreign currency reserves and help stabilise the value of the local currency, thereby reducing imported inflation.
In addition, it pointed out that the policy credibility and the boost in investor confidence
associated with the programme is likely to reopen the international capital market
to Ghana under more favourable conditions going forward.
In July 2022, the government commenced engagement the IMF in a bid to secure funding and support to alleviate the current economic challenges the country is facing.
The government has since held two rounds of negotiations with the IMF and the third round of negotiations is expected to be held before the end of the year.
The first round of negotiations focused on a preliminary fiscal adjustment path
debt strategy; and financing required for the programme in line with Post- COVID-19 Programme for Economic Growth (PC-PEG).
The second round was centered on fiscal consolidation path Debt Sustainability Analysis (DSA) and debt management strategy.
The final one will be hinged on structural reform benchmarks, prior actions, performance criteria on key macro-fiscal indicators among others.
Source: Joy Business
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
Ghana’s gold and minerals sector is set for a major spotlight as Meetings. Co, in partnership with key industry stakeholders, announces the Mining & Minerals Convention 2025, scheduled from August 26-27, 2025, at the Kempinski Hotel Gold Coast City, Accra.
Held under the theme “Shaping the Future of Ghana’s Gold Industry,”‘ the Convention will convene government leaders, regulators, miners, refiners, investors, sustainability partners, innovators, and responsible mining, and global competitiveness,policy experts to explore strategies that position Ghana’s gold industry for long-term growth.
The two-day convention will feature presidential and ministerial keynote addresses, industry thought leadership, technical paper presentations, policy dialogues, fireside chats, exhibitions, and high-level networking sessions.
Convention delegates can anticipate a dynamic and insightful experience, marked by thought leadership from leading policymakers and regulators, in-depth discussions on key topics such as sustainability, ESG, digital gold, and responsible sourcing, as well as valuable opportunities to forge public-private partnerships and investment deals.
Moreover, the event will offer practical action points aimed at unlocking greater economic value for Ghana.
The 2025 edition will be supported by a strong coalition of strategic partners, including the Ministry of Lands and Natural Resources, the Minerals Commission, GoldBod, the Minerals Income and Investment Fund (MIIF), and the Ghana Extractive Industries Transparency Initiative (GHEITI).
