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MINORITY CAUCUS ENGAGES IMF ON GHANA’S ECONOMIC OUTLOOK

16Mar

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Politics

MINORITY CAUCUS ENGAGES IMF ON GHANA’S ECONOMIC OUTLOOK

Members of Ghana’s Parliamentary Minority Caucus have held a high-level meeting with officials from the International Monetary Fund (IMF) to discuss recent economic developments in the country. The meeting, convened at the request of the Minority, provided an opportunity for lawmakers to share their perspectives on Ghana’s economic situation and offer feedback on ongoing reforms and policy directions. Among those present were Jerry Ahmed Shaib, Second Deputy Minority Whip; Mohammed Amin Adam, Ranking Member on Finance; Kojo Oppong Nkrumah, Ranking Member on Economy and Development; Kweku Agyeman Kwarteng, Chairman on Budget; Abena Osei-Asare, Chairperson of the Public Accounts Committee; and Collins Adomako-Mensah, Deputy Ranking Member on Energy. Also in attendance was Antoinette...

Ghana’s economy highly sensitive to gold prices- IMF 

A newly released International Monetary Fund (IMF) report says  Ghana’s economic stability is sensitive to fluctuations in global gold prices.  The analysis underscored that the country’s macroeconomic outlook is highly sensitive to changes in gold prices and ensuing exchange rate movements, given that gold is Ghana’s largest export and main source of foreign exchange. The IMF's detailed Risk Assessment Matrix revealed landscape where external shocks and domestic vulnerabilities intersect.  A specific adverse scenario analysis suggests that a potential drop in gold prices of about 30 percent by end-2026 which could see prices fall to around US$2,820 per ounce would significantly lower gold exports, reduce foreign exchange inflows, and ...

Jobs, trade tensions take spotlight at 2025 IMF/WBG spring meetings

As the world grapples with economic uncertainty, the International Monetary Fund (IMF) and World Bank Group (WBG) are set to convene for their highly anticipated Spring Meetings in 2025. The meetings will take place from April 21-26, in Washington, D.C. on the theme: “Jobs – The Path to Prosperity,” aimed at exploring international cooperation on future of job creation. This comes as the two Bretton Woods institutions estimate that the about 1.2 billion young people in emerging economies, reaching working age over the next decade, would only have access to some 420 million jobs. The gathering of global leaders, finance ministers and central bank governors, policymakers, and experts would focus on exploring solutions to the recent trade tariff tensions and shape the future of inter...