{"id":427205,"date":"2017-10-10T10:12:22","date_gmt":"2017-10-10T10:12:22","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/10\/10\/ghanas-revenue-mobilization-challenges-to-dominate-imfworld-bank-meeting-myjoyonline-com\/"},"modified":"2017-10-10T10:12:22","modified_gmt":"2017-10-10T10:12:22","slug":"ghanas-revenue-mobilization-challenges-to-dominate-imfworld-bank-meeting-myjoyonline-com","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/10\/10\/ghanas-revenue-mobilization-challenges-to-dominate-imfworld-bank-meeting-myjoyonline-com\/","title":{"rendered":"Ghana\u2019s revenue mobilization challenges to dominate IMF\/World Bank meeting\n– MyJoyOnline.com"},"content":{"rendered":"

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Challenges with revenue mobilization and its impact on Ghana\u2019s programme with the International Monetary Fund (IMF) will dominate some discussions as the Annual IMF-World Meetings opens in Washington DC.<\/p>\n

The Meetings have been described as the biggest gathering of Finance Ministers and Central Bank Governors whose countries are members of the IMF and World Bank.<\/p>\n

The meeting would also bring together economists, civil society groups, financial experts and bankers to deliberate on threats to the global economy and financial system.\u00a0<\/p>\n

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Ghana and the Annual meetings\u00a0<\/b><\/p>\n

JOYBUSINESS has learnt\u00a0challenges with revenue mobilization ending July 2017 will dominate some of the engagements that the delegation from Ghana will be having with the\u00a0Fund.<\/p>\n

According to persons close to the Fund, they are worried about the impact of this development in achieving the budget deficit for this year and some of the targets set out in the IMF program.<\/p>\n

That is the reason they will be seeking some clarifications from government on additional measures it is instituting to improve revenue following the not so good July ending revenue numbers.<\/p>\n

Government and challenging revenue numbers<\/b><\/p>\n

Government, on the other hand, has maintained that it is optimistic of meeting the revenue target of about \u00a245 billion by the end of this year.<\/p>\n

According to the July ending fiscal numbers, government was hoping to mobilize some \u00a224 billion in revenue, however, it just got \u00a221 billion.<\/p>\n

It has argued that venue numbers are normally not that good in first half of the year, but things would pick up the last quarter of year.<\/p>\n

Persons close to government have also cited the good expenditure numbers for July ending as one of the ways it is hoping to contain the budget deficit.<\/p>\n

Government was projecting to spend \u00a230.5 billion in the first seven months of this year but has actually spent some \u00a228 billion, putting the deficit at \u00a28 billion as against the \u00a28.2 billion targeted.\u00a0\u00a0<\/p>\n

Delegation to the Annual IMF\/Spring meetings\u00a0<\/b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

Finance Minister Ken Ofori Atta is leading government\u2019s delegation to the Annual IMF-World Bank Meetings.\u00a0<\/p>\n

The delegation is also made up officials of from Bank of Ghana, which includes the Governor Dr. Ernest Addison and his first Deputy Dr. Maxwell Afari.<\/p>\n

Also in attendance are the\u00a0Chair of Parliament\u2019s Finance Committee, Dr. Mark Assibey Yeboah as well as officials from the Finance Ministry.\u00a0<\/p>\n

Whiles the team from the finance ministry would focus on several technical engagements with the World Bank, the team from the Central Bank would also be engaged in several bi-lateral meetings with the IMF.\u00a0<\/p>\n

There would be other bilateral meetings with some other development agencies that the delegation would be holding in US.<\/p>\n

The meetings would also offer the team opportunity to engage the World Bank over its decision to increase financial assistance available to Ghana to more than $1.5 billion.\u00a0<\/p>\n

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\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Challenges with revenue mobilization and its impact on Ghana\u2019s programme with the International Monetary Fund (IMF) will dominate some discussions as the Annual IMF-World Meetings opens in Washington DC. The Meetings have been described as the biggest gathering of Finance Ministers and Central Bank Governors whose countries are members of the IMF and World Bank. 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