IMF Deal IMF Programme Will Improve Economy - Veep

Amissah Arthur said deal between Ghana and the IMF will place the government in a better position to manage the economy.

  • Published: , Refreshed:
play Vice-President, Mr Kwesi Amissah-Arthur
24/7 Live - Subscribe to the Pulse Newsletter!

The Vice-President, Mr Kwesi Amissah-Arthur, has stated that the deal reached between Ghana and the International Monetary Fund (IMF) will place the government in a better position to manage the national economy to achieve the necessary growth.

He said the Extended Credit Facility (ECF) given to Ghana, coupled with a good balance of payment, would stabilise the economy and tame inflation for economic growth to resume.

Speaking at the launch of the Ghana-Netherlands Business and Culture Council (GNBCC) in Accra yesterday, Mr Amissah-Arthur said the fall in gold and cocoa prices and the recent drop in oil prices had consequences for fiscal imbalances in the economy.

The Vice President and  the acting Ambassador of The Netherlands to Ghana, Ms Caecila Wijgers, jointly launched a book titled  “Doing Business in Ghana.”

Under the programme, the Vice-President stated that the government was going to restrain the growth of public expenditure through wages.

That, he added, would be done through proper capital expenditure, while others would be achieved through public-private partnership arrangement to set the grounds for the prioritisation of the expenditure programme that would seek to safeguard social expenditure.

Mr Amissah-Arthur underscored the need to improve tax collection to raise more revenue for development.

“We want to strengthen our monetary policy and the significant part of this agreement is to limit how government’s deficit is financed by the Central Bank as part of efforts to reduce interest rate,” he said.

Source: Daily Graphic

Recommended Articles

Recommended Videos





Top Articles

1 Video Metro Mass bus catches fire on Cape Coast-Kasoa highwaybullet
2 Nkonya Terminator "I am not afraid of death" - Kwabena Adjeibullet
3 Dr Mahamudu Bawumia Veep pays surprise visit to Passport Officebullet
4 International Relations France to relocate Embassy in Ghanabullet
5 No Jobs Over 1m Ghanaians are unemployed - Surveybullet
6 Security Ghana Armed Forces resumes 2017 recruitment exercisebullet
7 Grabbed NDC MP aspirant busted for fraudbullet
8 Kintampo Waterfalls Accident Ambulance conveying Kintampo...bullet
9 Akrasi Sarpong High court convicts former NACOB boss for...bullet
10 Foreign Affairs Ministry does not have money – Ayorkor...bullet

Top Videos

1 Video Metro Mass bus catches fire on Cape Coast-Kasoa highwaybullet
2 Prophecy I predicted Kintampo accident - Prophetbullet
3 Ghana@60 Agya Koo embarrassed Ghana at Independence Day - Asiedu Nketiabullet
4 Obinim What happen'd when we fact checked Obinim's Bible knowledgebullet
5 Health Alert Fufu is killing Africans - Mensah Otabilbullet
6 Meet "The Beast" President Obama's Cadillac that's more tank...bullet
7 Watch Kumchacha delivers Counselor Lutterodt from 'demons'bullet
8 Video Taxi driver terrified after an encounter with a ghostbullet
9 In Zimbabwe President Mugabe’s 70 year-old aide marries...bullet
10 Refugee Ghanaian to lose fingers after 7-hour trek to...bullet

News