Ghana : Fifth and Sixth Reviews Under the Extended Credit Facility, Request for Waivers for Nonobservance of Performance Criteria, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ghana

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

May 2, 2018

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Program performance improved in 2017 and macroeconomic conditions have strengthened considerably. Growth increased on the back of expanded oil production; inflation declined; the fiscal deficit was significantly reduced, leading to a primary surplus for the first time in fifteen years; the exchange rate regained stability; and the external position improved, with a large reserve build-up. Challenges remain, though, as a still elevated (albeit declining) debt burden and the economy’s exposure to risks limit policy space; and progress in meeting structural benchmarks remains mixed. Program discussions focused on policies to lock in recent gains to secure continued stability and progress beyond the Fund-supported program (in line with the authorities' goal of "irreversibility" of sound policies).

Series:

Country Report No. 18/113

Subject:

English

Publication Date:

May 2, 2018

ISBN/ISSN:

9781484353714/1934-7685

Stock No:

1GHAEA2018001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

105

Please address any questions about this title to publications@imf.org