{"id":1020672,"date":"2022-03-13T15:01:50","date_gmt":"2022-03-13T15:01:50","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/03\/13\/world-bank-projects-harsher-times-for-ghanas-economy\/"},"modified":"2022-03-13T15:01:50","modified_gmt":"2022-03-13T15:01:50","slug":"world-bank-projects-harsher-times-for-ghanas-economy","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/03\/13\/world-bank-projects-harsher-times-for-ghanas-economy\/","title":{"rendered":"World Bank projects harsher times for Ghana\u2019s economy"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"374\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/03\/915949429_262836-Copy-Copy-696x374.jpg\"   alt=\"world bank\" title=\"world bank\"\/><figcaption class=\"wp-caption-text\">world bank<\/figcaption><\/figure>\n<\/div>\n<p>The World Bank has projected harsher times for Ghana\u2019s economy.<\/p>\n<p>This comes as the exchange rate continues to rise amidst inflation and increasing cost of living coupled with a rise in prices of petroleum products.<\/p>\n<p>Many Ghanaians have complained about the effect of the situation on their standard of living.<\/p>\n<p>Government is already having a tough time rallying support for the controversial E-Levy, insisting it may not be able to settle some statutory obligations without the tax.<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>But the World Bank Country Director, Pierre Laporte, does not see any end in sight just yet.<\/p>\n<p>\u201cThe situation is very difficult right now. Ghana faces a very tough road ahead to restore macro-sustainability,\u201d he said.<\/p>\n<p>According to him, the source of the country\u2019s woes may be more than just stifled revenue generation.<\/p>\n<p>Government has blamed the Covid-19 as a major contributor to the exacerbating economy.<\/p>\n<p>But the World Bank boss insists that the signs were clear even before the global pandemic hit.<\/p>\n<p>He, therefore, called on government to be more open about the dealings regarding the country\u2019s fiscal state.<\/p>\n<p>This, Mr Laporte believes, will help restore stability in the economy.<\/p>\n<p>\u201cHe [Finance Minister] acknowledges the severity of the situation. Yes, Covid has not helped but even before Covid, there were signs that the situation was getting a little more challenging,\u201d he added.<\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"COo1k4wTyL8\"><iframe loading=\"lazy\" title=\"Mourning the Late Elvis Kwashie: Former General Manager of Joy Brands goes home - Adom TV (12-3-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/COo1k4wTyL8?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>world bank The World Bank has projected harsher times for Ghana\u2019s economy. This comes as the exchange rate continues to rise amidst inflation and increasing cost of living coupled with a rise in prices of petroleum products. Many Ghanaians have complained about the effect of the situation on their standard of living. Government is already [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1020673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[557,1963,250,6059,3747,107,784],"class_list":["post-1020672","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bank","tag-economy","tag-ghanas","tag-harsher","tag-projects","tag-times","tag-world"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1020672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1020672"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1020672\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1020672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1020672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1020672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}