{"id":36069,"date":"2022-10-08T11:32:04","date_gmt":"2022-10-08T11:32:04","guid":{"rendered":"http:\/\/www.brandon.ddtest.info\/multisite-test\/imf-ghana-talks-constructive-more-work-needed-on-debt-analysis\/"},"modified":"2022-10-08T11:32:04","modified_gmt":"2022-10-08T11:32:04","slug":"imf-ghana-talks-constructive-more-work-needed-on-debt-analysis","status":"publish","type":"post","link":"http:\/\/www.brandon.ddtest.info\/multisite-test\/imf-ghana-talks-constructive-more-work-needed-on-debt-analysis\/","title":{"rendered":"IMF: Ghana talks constructive, more work needed on debt analysis"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p data-testid=\"paragraph-0\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">ACCRA, Oct 7 (Reuters) &#8211; The International Monetary Fund said on Friday that talks with Ghana&#8217;s government about a potential loan programme had been constructive but that more work was needed on a debt-sustainability analysis.<\/p>\n<p data-testid=\"paragraph-1\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Ghana approached the IMF for financial support in July as foreign investors dumped its debt and as street protests broke out over rocketing prices.<\/p>\n<p data-testid=\"paragraph-2\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">A team from the Fund arrived days later to begin talks on a support programme and reforms to restore macroeconomic stability and debt sustainability in the gold, oil and cocoa-producing nation.<\/p>\n<div class=\"registration-prompt-v2__container__1mRPg registration-prompt-v2__inline__1JoxF article-body-v2__element__23wZV article-body-v2__inline-registration-prompt__3q-iu\">\n<p><h5 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt-v2__heading__2z1Vt\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt-v2__button-text__2m6i6\" type=\"button\"><span class=\"button__container__3sgvk\"><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/span><\/button><\/p>\n<\/div>\n<p data-testid=\"paragraph-3\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Discussions resumed on Sept. 26 with a mission that ended on Friday.<\/p>\n<p data-testid=\"paragraph-4\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">The IMF said in a statement that its staff would now return to Washington for further technical work including assessing Ghana&#8217;s debt sustainability.<\/p>\n<p data-testid=\"paragraph-5\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">&#8220;The discussions with the authorities will also continue in the weeks ahead. &#8230; We reaffirm our commitment to support Ghana in these challenging times,&#8221; the fund added.<\/p>\n<p data-testid=\"paragraph-6\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Ghanaian policymakers have taken steps to address the economy&#8217;s rapid deterioration, including cutting spending and implementing aggressive interest rate hikes.<\/p>\n<p data-testid=\"paragraph-7\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">The central bank raised its main lending rate <a data-testid=\"Link\" href=\"https:\/\/www.reuters.com\/quote\/GHCBIR=ECI\" target=\"_blank\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">(GHCBIR=ECI)<\/a> by a further 250 basis points to a five-year high of 24.5% on Thursday, saying inflation and risks remained high.<\/p>\n<p data-testid=\"paragraph-8\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">The cedi currency is down around 40% against the dollar this year although its slide has slowed , aided by the disbursement of a $750 million loan from Afreximbank and the signing of a syndicated cocoa loan of $1.13 billion.<\/p>\n<p data-testid=\"paragraph-9\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Inflation, however, climbed to a 21-year peak of 33.9% in August <a data-testid=\"Link\" href=\"https:\/\/www.reuters.com\/quote\/GHCPIY=ECI\" target=\"_blank\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">(GHCPIY=ECI)<\/a>.<\/p>\n<p data-testid=\"paragraph-10\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Net foreign reserves have dwindled to $2.7 billion in September from $6.1 billion in January.<\/p>\n<p data-testid=\"paragraph-11\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Ghana&#8217;s finance minister last week said <a data-testid=\"Link\" href=\"https:\/\/www.reuters.com\/world\/africa\/ghana-negotiations-with-imf-be-fast-tracked-finance-minister-2022-09-28\/\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\">negotiations with the IMF would be fast-tracked<\/a>.<\/p>\n<div class=\"registration-prompt-v2__container__1mRPg registration-prompt-v2__inline__1JoxF article-body-v2__element__23wZV\">\n<p><h5 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt-v2__heading__2z1Vt\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt-v2__button-text__2m6i6\" type=\"button\"><span class=\"button__container__3sgvk\"><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/span><\/button><\/p>\n<\/div>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__default__UPMUu sign-off-v2__text__28fsH\">Reporting by Cooper Inveen, Sofia Christensen and Anait Miridzhanian; Editing by Alexander Winning and Hugh Lawson<\/span><\/p>\n<p data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body-v2__element__23wZV\">Our Standards: <a data-testid=\"Link\" href=\"https:\/\/www.thomsonreuters.com\/en\/about-us\/trust-principles.html\" target=\"_blank\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">The Thomson Reuters Trust Principles.<\/a><\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.reuters.com\/world\/africa\/imf-reaffirms-commitment-support-ghana-after-visit-2022-10-07\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ACCRA, Oct 7 (Reuters) &#8211; The International Monetary Fund said on Friday that talks with Ghana&#8217;s government about a potential loan programme had been constructive but that more work was needed on a debt-sustainability analysis. Ghana approached the IMF for financial support in July as foreign investors dumped its debt and as street protests broke &hellip;<\/p>\n","protected":false},"author":1,"featured_media":36070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[161],"tags":[],"_links":{"self":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/36069"}],"collection":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/comments?post=36069"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/36069\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/36070"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=36069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=36069"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=36069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}