{
  "title": "Ghana: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Ghana",
  "publication": "IMF Staff Country Reports, April 16, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/04/16/ghana-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49337",
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  "summary": "This paper discusses Ghana’s Request for Disbursement Under the Rapid Credit Facility (RCF). Growth is slowing down, financial conditions have tightened, and the exchange rate is under pressure. This has resulted in large government and external financing needs.",
  "sections": [
    {
      "heading": "Summary and purpose",
      "content": "- Discusses Ghana’s Request for Disbursement Under the Rapid Credit Facility (RCF).\n- Date: April 16, 2020.\n- Main messages:\n  - Growth is slowing down, financial conditions have tightened, and the exchange rate is under pressure.\n  - Large government and external financing needs have arisen.\n  - Authorities have timely and proactive measures to contain the spread of the coronavirus disease 2019 pandemic in Ghana and to support affected households and firms.\n  - The IMF continues to monitor Ghana’s situation closely and stands ready to provide policy advice and further support as needed.\n  - The uncertain dynamics of the pandemic create significant risks to the macroeconomic outlook.\n  - Ghana continues to be classified at high risk of debt distress.\n  - Authorities remain committed to policies consistent with strong growth, rapid poverty reduction, and macroeconomic stability over the medium term.\n  - Additional support from other development partners will be required and critical to close the remaining external financing gap and ease budget constraints."
    },
    {
      "heading": "Macroeconomic conditions and risks",
      "content": "- Findings:\n  - Growth is slowing down.\n  - Financial conditions have tightened.\n  - The exchange rate is under pressure.\n  - The pandemic introduces significant uncertainty and downside risks to the macroeconomic outlook.\n  - Ghana is classified at high risk of debt distress."
    },
    {
      "heading": "Policy response and IMF engagement",
      "content": "- Authorities’ actions:\n  - Timely and proactive response to contain the spread of COVID-19.\n  - Support measures for affected households and firms.\n- IMF role:\n  - Continues to monitor Ghana’s situation closely.\n  - Stands ready to provide policy advice and further support as needed."
    },
    {
      "heading": "Financing needs and external support",
      "content": "- Observations:\n  - Large government and external financing needs have emerged.\n  - Additional support from other development partners is required to close the remaining external financing gap and to ease budget constraints."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Central banks, COVID-19, Credit, Economic sectors, Energy sector, Financial sector, Health, International reserves, Money\n- Keywords: authorities' effort, COVID-19, CR, Credit, Energy sector, Financial sector, financing, financing gap, financing needs, Ghana, Ghana's situation, Ghanaian authorities, Global, government, government financing, government financing Needs, International reserves, ISCR\n\n---\n\n Content in this bundle\n\n- 1ghaea2020001\n  - 1ghaea2020001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1ghaea2020001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: April 16, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513540870.002",
    "Discusses Ghana’s Request for Disbursement Under the Rapid Credit Facility (RCF).",
    "Date: April 16, 2020.",
    "Main messages:",
    "Findings:",
    "Authorities’ actions:",
    "IMF role:",
    "Observations:",
    "Subject: Central banks, COVID-19, Credit, Economic sectors, Energy sector, Financial sector, Health, International reserves, Money",
    "Keywords: authorities' effort, COVID-19, CR, Credit, Energy sector, Financial sector, financing, financing gap, financing needs, Ghana, Ghana's situation, Ghanaian authorities, Global, government, government financing, government financing Needs, International reserves, ISCR",
    "**1ghaea2020001**"
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