{"id":1158350,"date":"2022-07-25T16:11:10","date_gmt":"2022-07-25T16:11:10","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/07\/25\/unprecedented-global-challenges-reason-for-imf-ofori-atta\/"},"modified":"2022-07-25T16:11:10","modified_gmt":"2022-07-25T16:11:10","slug":"unprecedented-global-challenges-reason-for-imf-ofori-atta","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/07\/25\/unprecedented-global-challenges-reason-for-imf-ofori-atta\/","title":{"rendered":"Unprecedented global challenges reason for IMF\u2014Ofori-Atta"},"content":{"rendered":"

<\/p>\n

\n Accra, July 25, GNA – Mr Ken Ofori-Atta, the Minister for Finance, on Monday said the government’s decision to go to the International Monetary Fund (IMF) for financial support is as a result of unprecedented global challenges.<\/p>\n
\"\"<\/div>\n
He said Ghana\u2019s economy was on the right path until the emergence of Covid-19 in 2020.<\/div>\n
Mr Ofori-Atta said this on the floor of Parliament when he delivered the Mid-year Budget Review.<\/div>\n
“Mr Speaker, the country was on the path of recovery until the Russia-Ukraine war compounded Ghana\u2019s financial crisis.,” he said.<\/div>\n
Meanwhile, the latest figures released by the Bank of Ghana have put Ghana\u2019s total public debt stock, as of June 2022, at US$54.4 billion or GH\u00a2393.4 billion.<\/div>\n
In dollar terms, the debt dropped by about $4 billion in the first six months of the year, from $58.6 $58.6 billion in December 2021 to $54.4 billion in the first half of the year 2022.<\/div>\n
In cedi terms, nonetheless, the total debt stock within the first six months of this year, increased by about GH\u00a241 billion.<\/div>\n
Per the data from the Central Bank\u2019s Summary of Economic and Financial Data report, for July 2022, an additional 41.6 billion Ghana cedis had pushed Ghana\u2019s public debt stock to GH\u00a2393.4 billion as of June 2022.<\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Accra, July 25, GNA – Mr Ken Ofori-Atta, the Minister for Finance, on Monday said the government’s decision to go to the International Monetary Fund (IMF) for financial support is as a result of unprecedented global challenges. He said Ghana\u2019s economy was on the right path until the emergence of Covid-19 in 2020. Mr Ofori-Atta […]<\/p>\n","protected":false},"author":1,"featured_media":1158352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1923,6128,21382,3454,7905],"class_list":["post-1158350","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-challenges","tag-global","tag-imfoforiatta","tag-reason","tag-unprecedented"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1158350","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=1158350"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1158350\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1158350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1158350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1158350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}