Ghana, IMF headed for collision course


International Monetary Fund

from RUSSEL ADADEVOH in Accra, Ghana

ACCRA – GHANA risks sanctions from the International Monetary Fund for allegedly misrepresenting the economic situation.

The West African is said to have given incorrect economic figures to mask the deteriorating state of affairs in the economy.

IMF’s Sanjeev Gupta, responsible for Fiscal Affairs Department, said Ghana’s debt profile was more than 70 percent of gross domestic product (GDP). This disputes the government’s 55 percent the central bank claimed.

“First of all, the debt-to-GDP ratio in Ghana is 71 percent, not 60 percent. As  uch, it is much higher than mentioned,” Gupta said.

He said such “unprecedented actions” were “unacceptable”.

The Brettonwood institution argued it was for the second time Ghana erred in that regard.

It is believed Ghana acted similarly in 2 000, incurring the country some punishment in 2001.

– CAJ News
















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Posted by on Oct 13 2014. Filed under Africa & World, Finance, Finance & Banking, National, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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