4 h. ago APL claims vindication following IMF’s revelation of BoG’s $1.4bn forex support

Governance think tank, the Africa Policy Lens, says it has been vindicated by a recent revelation by the International Monetary Fund (IMF) that the Bank of Ghana pumped in dollars to support the recent stability of the Cedi. The IMF, in its latest review of Ghana's programme, revealed that the Bank of Ghana released $1.4bn forex support to sustain the Cedi against the US dollar.

Politics

5 h. ago Forex market intervention for 2025 Q1 has not depleted our reserves – BoG

The Bank of Ghana (BoG) has maintained that its foreign exchange (forex) market intervention for the first quarter of 2025 has not depleted its reserves. The BoG, according to what JOYBUSINESS has picked up added US$1.6 billion to its reserves for the first six months of the year, surpassing the International Monetary Fund’s (IMF) reserve […]

Politics

25 h. ago Government met only 3 out of 11 structural benchmarks, but taken strong actions to address rest – IMF

It mentioned that the quarterly electricity tariff adjustments (quarterly SB starting from end-January 2025) resumed only in April 2025 due to delays in appointing a new board of the energy sector regulator (PURC), while the publication of the audit of Electricity Company of Ghana (ECG)’s collections and uses (end-January 2025 SB) was achieved in February 2025 and covered a longer period than mandated by program conditionality.

Politics

25 h. ago 13 banks meet recapitalisation requirements, local banks struggling to do so – IMF

Most of the 13 banks that recorded post Domestic Debt Exchange (DDE) capital deficits have now met or exceeded their recapitalisation requirements at the end of 2024. This is on the back of strong profitability and Ghana Financial Stability Fund (GFSF) support—and are on course to restore Capital Adequacy Ratio (CAR) of 13.0% without reliefs […]

Politics

30 h. ago Bank of Ghana intervened with $1.4bn in the forex market in 2025 first quarter

The Bank of Ghana sold $1.4 billion in foreign exchange during the first quarter of 2025, according to the latest International Monetary Fund (IMF) review of Ghana’s programme. “The Bank of Ghana’s footprint in the FX market continued to increase. Large-scale FX intervention continued in 2025, reaching $1.4 billion in the first quarter,” the Fund noted. […]

Economics

39 h. ago Government gross financing needs to remain elevated; debt service obligations are large – IMF warns

“Since the 2023 domestic debt restructuring, the government has been relying on T-bills [treasury bills] as the main source of domestic financing. Most T-bills are issued through auctions, but the authorities made private placements in 2024, primarily with non-bank investors with limited alternative investment options (individuals, insurance and investment funds)”.

Events

2 d. ago Government promised to reverse new hires of civil servants – IMF reveals

The Fund also stated that the new authorities assured it is fully committed to achieving the fiscal objectives under the IMF-supported programme while implementing their policy priorities.

Politics

3 d. ago Ghana’s energy sector shortfall to reach $2.2bn by December 2025 – IMF

The Fund said some progress has recently been made in addressing the energy sector’s challenges.

Politics

3 d. ago Cocoa sector witnessed improvement in late 2024; new financing model has reduced liquidity constraints – IMF

Ghana’s cocoa sector has seen some improvements since late 2024, the International Monetary Fund (IMF) has said. According to the Fund, production during the 2024/25 season recovered thanks to a more favorable climate and ongoing interventions to enhance productivity such as artificial pollination, mass pruning, mass spraying and hi-tech. The Fund in a Country Report […]

Politics

3 d. ago Diana Hamilton celebrates God’s goodness in new single ‘Me Nyankopon Papabi’

Award-winning gospel musician Diana Hamilton has released a new single titled Me Nyankopon Papabi(My Good God), a heartfelt expression of gratitude to God for how far He has brought her and many others in life.

Politics

4 d. ago ‘IMF is not God and should not be seen as God” – Amanda Clinton

Head of Chambers at Clinton Consultancy, Amanda Clinton, has delivered a critique of the global financial system and Ghana’s relationship with institutions like the International Monetary Fund (IMF), asserting emphatically that “IMF is not God and should not be seen as God.” Speaking on JoyNews’ AM Show on Thursday, July 10, Ms Clinton, a private […]

Politics

5 d. ago Economy running on borrowed breath, not fundamental strength – Africa Policy Lens

Despite apparent economic gains, particularly the recent stability of the local currency, the Africa Policy Lens (APL) has warned that Ghana’s economy is operating on "borrowed breath" rather than fundamental strength. In a statement reacting to the injection of US$367 million from the International Monetary Fund (IMF) following the fourth review of its Extended Credit Facility Programme, the APL said indicators point to an overreliance on foreign support for the economy’s survival.

Events

6 d. ago Prof Bokpin backs the IMF call to BoG to reduce their FX interventions

Professor of Finance and Economics at the University of Ghana has backed the International Monetary Fund’s (IMF) recommendation for the Bank of Ghana to scale down its foreign exchange market interventions, warning that continued control by the central bank is distorting price signals and fuelling black market activity.

Politics

6 d. ago IMF’s caution against artificial stability of Cedi vindicates our red flag – IERPP

The Institute of Economic and Research Policy Promotion (IERPP), says it has been vindicated by the IMF's expression of concern and caution to the government over its control of the stability of the Cedi. The Executive Board of the IMF, in its fourth review under the Extended Credit Facility Arrangement with Ghana, expressed concern about how the government has been pumping in forex to support the Cedi against major currencies, instead of allowing market factors to determine the stability of the local currency.

Politics

6 d. ago Reduce interventions in the forex market – IMF to Bank of Ghana

The IMF Executive Board on July 7, 2025, concluded its fourth review of Ghana’s ongoing 18th  IMF programme, which began in May 2023. Completion of the review unlocks a new disbursement of $367 million, bringing the total support under the programme to $2.3 billion. This is a positive development for the Ghanaian cedi. The injection […]

Politics

6 d. ago Ghana’s IMF programme hit by major policy slippages and reform delays

Ghana’s $3 billion programme under the International Monetary Fund’s 36-months Extended Credit Facility (ECF) has been flagged for significant policy slippages and delays in reform implementation, according to the Fund’s latest review. The IMF described the country’s programme performance as having “deteriorated markedly” by the end of 2024. This was revealed in the Fund’s update […]

Events

7 d. ago Ghana has taken bold corrective actions to maintain ECF programme on track – IMF

The International Monetary Fund has applauded President Mahama’s government’s bold corrective actions to maintain the Economic Credit Facility (ECF) programme on track. Combined with ongoing reform efforts and an improved external position, the Fund said the corrective measures are set to support Ghana in reaching the goals of economic stabilisation, rebuilding resilience, and fostering higher […]

Politics

7 d. ago Preserve integrity of fiscal policy adjustment to bolster economic recovery – IMF to government

It commended the government (Ministry of Finance and Bank of Ghana) for making headway on their public debt restructuring, highlighting the Memorandum of Understanding (MoU) with Ghana’s Official Creditors Committee (OCC) under the G20 Common Framework.  The focus is now on finalising the bilateral agreements to implement the MoU.

Politics

8 d. ago IMF Board to consider Ghana’s 4th programme review today July 7, 2025

Sources say all the documents needed for the Executive Board of the IMF have been sent this week to help meet at least the four-day target, before the Board meets on Monday, July 7, 2025.

Politics

8 d. ago IMF appoints Dr. Adrian Alter as new Resident Representative to Ghana

The International Monetary Fund (IMF) has appointed a Senior Economist with the Fund, Dr. Adrian Alter as the new Resident Representative to Ghana. Dr. Alter is expected to formally assume office from September 2, 2025. He will take over from current Country Representative, Dr. Leandro Medina whose tenure of office will end in August 2025, […]

Politics