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Vol 64 No 11

Published 25th May 2023


Deeper reforms needed after the bailout

Slowing inflation and a strengthening cedi after the IMF credit will help the ruling party’s election campaign

Ghana's US$3 billion bailout deal with the International Monetary Fund will not be painless, and comes with demands for a diet of structural reforms and spending cuts. Key priorities cited by the Fund include 'frontloaded' fiscal consolidation measures to cut spending and boost revenue, energy and cocoa sector reforms, and policies to tackle inflation and increase exchange rate flexibility. Alongside this are measures to ensure financial stability, and boost growth, investment and employment; with overall progress to be monitored every six months.

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