{"id":63013,"date":"2023-05-02T09:29:06","date_gmt":"2023-05-02T09:29:06","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/05\/02\/inflation-rate-dropping-interest-rates-on-govt-treasury-notes-declining-fall-of-the-cedi-slowing-akufo-addo\/"},"modified":"2023-05-02T09:29:06","modified_gmt":"2023-05-02T09:29:06","slug":"inflation-rate-dropping-interest-rates-on-govt-treasury-notes-declining-fall-of-the-cedi-slowing-akufo-addo","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/05\/02\/inflation-rate-dropping-interest-rates-on-govt-treasury-notes-declining-fall-of-the-cedi-slowing-akufo-addo\/","title":{"rendered":"Inflation rate dropping, interest rates on govt treasury notes declining, fall of the cedi slowing &#8211; Akufo-Addo"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"395\"  alt=\"\" title=\"Akufo-Addo1\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/05\/Akufo-Addo1-696x395.jpg\" data- class=\"entry-thumb lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"395\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/05\/Akufo-Addo1-696x395.jpg\"   alt=\"\" title=\"Akufo-Addo1\"\/><\/noscript><figcaption class=\"wp-caption-text\">President Nana Akufo-Addo<\/figcaption><\/figure>\n<\/div>\n<p><b>President Nana Addo Dankwa Akufo-Addo has said that <\/b><span lang=\"EN-GB\"><b>the progress that has been made in securing the International Monetary Fund (IMF) Staff Level Agreement, in the debt exchange programme, and the implementation of key structural reforms, are yielding benefits.\u00a0<\/b><\/span><\/p>\n<p><span lang=\"EN-GB\">He said inflation is decelerating, interest rates on government treasury notes are declining, the depreciation of the cedi is slowing down, and Gross Domestic Product (GDP) growth for 2022 has performed beyond expectations.<\/span><\/p>\n<p><span lang=\"EN-GB\">Speaking at the May Day celebration in Bolatanga on Monday May 1, Mr Akufo-Addo said \u201clet me touch on a very important subject matter which is the status of the IMF programme negotiations. <\/span><\/p>\n<p><span lang=\"EN-GB\">\u201cAfter achieving a Staff Level Agreement with the IMF in December, 2022 in record time, six months after beginning the negotiations in July 2022, we have continued to work tirelessly to complete all prior actions required to present Ghana\u2019s Programme to the IMF Executive Board for approval. <\/span><\/p>\n<p><span lang=\"EN-GB\">\u201cWe have also made substantial progress on the debt exchange programme, as well as on our engagements with bilateral creditors to secure financing assurances required for the IMF Programme.\u201d<\/span><\/p>\n<p><span lang=\"EN-GB\">He added \u201cWe are assured that the next round of meetings of the Paris Club will result in the formation of Official Creditor Committee, inclusive of China, and the provision of financing assurances.\u201d<\/span><\/p>\n<p><span lang=\"EN-GB\">The IMF and the World Bank, he said,\u00a0 have been very supportive in this journey. <\/span><\/p>\n<p><span lang=\"EN-GB\">With the progress made so far, he said, \u201cwe expect the IMF Board to consider Ghana\u2019s programme for imminent approval, after the financing assurances are provided.\u201d<\/span><\/p>\n<p><span lang=\"EN-GB\">He further thanked Organised Labour for the role they have played in this journey, especially their inputs into the preparation of the government\u2019s Post COVID-19 Programme for Economic Growth, which underpins the IMF-supported Programme.<\/span><\/p>\n<p><span lang=\"EN-GB\">\u201cWe are very confident that the approval of the IMF Programme will contribute significantly to revival of confidence required to drive the successful implementation of the Post COVID-19 Programme for Economic Growth and the key structural reforms for economic recovery and sustained inclusive growth.<\/span><\/p>\n<p><span lang=\"EN-GB\">\u201cAlready the progress we have made in securing the IMF Staff Level Agreement, in the debt exchange programme, and the implementation of key structural reforms, are yielding benefits. Inflation is decelerating, interest rates on government treasury notes are declining, the depreciation of the cedi is slowing down, and GDP growth for 2022 has performed beyond expectations. With the successful implementation of the Post COVID-19 Programme for Economic Growth, we expect growth to recover in the medium-term to over five percent (5%). <\/span><\/p>\n<p><span lang=\"EN-GB\">\u201cThe medium-term growth will be supported by key interventions to support improvements in the business environment and export competitiveness, promotion of entrepreneurship for private sector development, fast-tracking the implementation of key growth-oriented programmes under the Ghana CARES (Obaatan Pa) Programme, transitioning to a digital economy to boost productivity, tax collection, and the formalisation of the economy, and the strengthening of policies to adapt to and mitigate climate change for inclusive growth.\u201d\u00a0\u00a0<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Nana Akufo-Addo President Nana Addo Dankwa Akufo-Addo has said that the progress that has been made in securing the International Monetary Fund (IMF) Staff Level Agreement, in the debt exchange programme, and the implementation of key structural reforms, are yielding benefits.\u00a0 He said inflation is decelerating, interest rates on government treasury notes are declining, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":63014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-63013","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - 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