Ghana’s economic indicators remain on track – World Bank
In its Eighth Economic Update for Ghana, titled Strengthening Domestic Revenue Systems for Fiscal Sustainability, the World Bank notes that despite recent increases in the pace of exchange rate depreciation and slower-than-expected inflation reduction, Ghana’s economic indicators remain on track for 2024 and continuing. The report highlights the steady progress Ghana has made over the […]
World Bank approves $250 million credit and $10 million grant to support Ghana’s Energy Sector
By: Racheal Asamoah The Ministry of Finance says the World Bank has approved a $250 million credit from the International Development Association, (IDA) and an additional $10 million grant from the Energy Sector Management Assistance Programme. This is to support a 4-year Ghana Energy Sector Recovery Programme for Results, (PforR) to improve the financial viability […]
World Bank supports policy reform of Ghana’s Energy Sector and access to clean cooking
The World Bank has approved a $250 million credit from the International Development Association (IDA) and a $10 million grant from the Energy Sector Management Assistance Program for a 4-year Ghana Energy Sector Recovery Program for Results (PforR). The PforR will support Ghana’s Energy Sector Recovery Programme (ESRP) to improve the financial viability of electricity distribution and […]
Government to publish audit reports from cash waterfall mechanism – Dr. Amin Adam
The government has announced plans to publish audit findings of the cash waterfall mechanism to enhance transparency and accountability within the country’s energy sector. This move comes amidst significant financial challenges the sector faces, including a substantial debt burden owed to independent power producers amounting to over one billion dollars. To address the mounting debt, […]
$300 million World Bank loan hits BOG account
The 300 million dollar World Bank facility to support some projects in 2024 has finally been credited to the Bank of Ghana’s (BoG) account. This was after Ghana met all the necessary conditions, including Cabinet and Parliament’s approval to facilitate the transfer of the funds to the country. The Bank of Ghana is expected to […]
IMF, World Bank working to accelerate debt treatment for Ghana under G20 Common Framework
The International Monetary Fund, IMF, and World Bank are working together to accelerate debt restructuring for Ghana and other countries under the Group of Twenty, G20, Common Framework. The IMF and the World Bank are bringing all relevant creditors and debtors together with promising signs. Managing Director of IMF, Kristalina Georgieva, said this during a […]
IMF, World Bank to hold annual meeting in Morocco
The International Monetary Fund (IMF) and the World Bank are gathering in Marrakech, Morocco this week for their annual meeting. It has been fifty years since their last gathering on the continent. The two institutions traditionally hold their week-long meeting away from their Washington headquarters every two or three years. After two postponements due to […]
Ghana enjoys more goodwill from World Bank
By: Rukayatu Musah Managing Director for Operations of the World Bank, Anna Bjerde has pledged the Group’s commitment to continuously provide Ghana with skills for the job market. She said the Ghana’s young population has the potential to introduce and create innovative content through skills training, hence, the need to focus on providing more skills to fit […]
World Bank Managing Director for Operations Anna Bjerde visits World Bank financed projects in Ghana
By: Nana Achiaa Aboagye The World Bank Managing Director for Operations, Anna Bjerde is on a working visit to the World Bank’s Financed projects in Ghana. She first stopped at the New Gbawe Municipal Assembly Basic 1 School which is one of the beneficiaries of the Accountability and Learning Outcomes Project (GALOP). This is her […]
2023 IMF/ World Bank Spring Meetings and Ghana matters
By: Edward Nyarko Ghana is on the cusp of securing financing assurances after the Finance Minister, Ken Ofori-Atta met with the Managing Director of the IMF, Kristalina Georgieva in Washington D.C. With this breakthrough, the board of the IMF will in the next couple of weeks take action on Ghana’s request for a 3-bilion-dollar bailout. […]
