Ghana is on course for IMF staff to present the organisation's executive board with Ghana's request for a loan programme by the end of the month, President Nana Akufo-Addo said on Wednesday after months of detailed talks.
The West African country, struggling with its worst economic crisis in a generation, secured a staff-level agreement with the IMF in December for a $3 billion loan, but the money's approval is contingent on it restructuring its debt of 575.7 billion cedis .
"We are on course for the IMF Staff to present to the IMF executive board Ghana’s programme request for a 3 billion dollar extended credit facility by the end of the month," said Akufo-Addo during his annual address to the nation. Akufo-Addo also said that while he did worry about the extraordinary expenditure on security at the country's borders, Ghana had no choice but to spend resources to keep its borders safe.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ghana: Bipolar Disorder Is Poorly Understood in Ghana - Knowing the Facts Can Help Prevent SufferingAnalysis - Attitudes to mental health conditions are often influenced by matters of awareness and belief systems. Bipolar disorder is one of the conditions that's frequently misunderstood and stigmatised.
Read more »
Bank of Ghana Approves New Payment Service Provider - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and ReportsCross Switch Ghana LTD, and Cross Switch International S.A.R.L. are pleased to announce that Cross Switch Ghana LTD has obtained approval from the Bank of Ghana to operate as an Enhanced Payment Service Provider. Cross Switch Ghana LTD was recently granted approval by the Bank of Ghana to operate as an Enhanced Payment Service Provider (EPSP). […]
Read more »
Ghana: We're 66 Years TodayGhana turns 66 years today, with all set for the celebration of self-rule and sovereignty in the Volta Regional Capital, Ho.
Read more »
Nigeria: CBN Counters IMF, Says 52% Anchor Borrowers Loan RepaidThe ABP supported about 4.57 million smallholder farmers who cultivated over 6.02 million hectares of 21 commodities, the CBN said.
Read more »
Ghana Celebrates 66th Independence DayGhanaians worldwide have celebrated the country's 66th independence day. On March 6, 1957, Ghana gained independence after 83 years of British colonial rule - becoming the first sub-Saharan African country to achieve independence from Britain. Ho, the Volta Regional capital hosted the national independence parade with the theme of this year's event "Our Unity, Our Strength, Our Purpose". President Nana Addo Dankwa Akufo-Addo in his speech said that the theme serves as a clarion call for Ghanaians to continue to seek out progress for the nation. "Our forebears were united and strong toward a common purpose of attaining independence. It did not matter which ethnic group or religious persuasion they related to, or their standing in society generally. They recognized that colonialism did not collectively inure to their benefit. They were determined to end it, and indeed they did," said Akufo-Addo. Touching on the economic challenges Ghanaians are going through presently, Akufo-Addo emphasized that the government has put in place quite a number of interventions that will soon alleviate the suffering of the people.
Read more »