{"id":163013,"date":"2024-03-18T22:34:17","date_gmt":"2024-03-18T22:34:17","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/18\/curtail-excessive-expenditure-to-avert-fiscal-risks\/"},"modified":"2024-03-18T22:34:17","modified_gmt":"2024-03-18T22:34:17","slug":"curtail-excessive-expenditure-to-avert-fiscal-risks","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/18\/curtail-excessive-expenditure-to-avert-fiscal-risks\/","title":{"rendered":"Curtail excessive expenditure to avert fiscal risks"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The International Monetary Fund (IMF) has cautioned Ghana regarding its fiscal challenges, emphasizing the need for restraint in spending.<\/p>\n<p>The IMF also advised the establishment of financial benchmarks, specifically a 55% net present value to GDP ratio and a cap of 18% on debt service as a proportion of government revenues.<\/p>\n<p>Kristalina Georgieva, the IMF\u2019s Managing Director, in an interview on <strong>Citi TV\u2019<\/strong>s <strong>The Point of View<\/strong> with Bernard Avle, also advocated for the creation of a fiscal council in Ghana.<\/p>\n<p>The council, she opined would consist of independent individuals who could oppose unnecessary expenditure in the country when necessary.<\/p>\n<p>Georgieva stressed the importance of adhering to these financial anchors to stabilize Ghana\u2019s fiscal situation.<\/p>\n<p>She suggested that the fiscal council would play a crucial role in ensuring financial stability and preventing fluctuations in spending.<\/p>\n<p>\u201cWe need to have anchors and then stick to them. For Ghana, what we are proposing is 55% net present value debt to GDP. And 18% max for the share of debt service into government revenues. Anchor your situation in a clear stable manner.<\/p>\n<p>\u201cWe also recommend Ghana takes a very serious look at how the fiscal situation in the future can be stable and so we don\u2019t go up and down again. We are recommending fiscal council, reputable people, independent people able to say objectively this line of spending yes and this one no.\u201d<\/p>\n<p>\u2014\u2014<\/p>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU: https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<p><em><strong>No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) has cautioned Ghana regarding its fiscal challenges, emphasizing the need for restraint in spending. The IMF also advised the establishment of financial benchmarks, specifically a 55% net present value to GDP ratio and a cap of 18% on debt service as a proportion of government revenues. Kristalina Georgieva, the IMF\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":163014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-163013","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Curtail excessive expenditure to avert fiscal risks - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/03\/18\/curtail-excessive-expenditure-to-avert-fiscal-risks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Curtail excessive expenditure to avert fiscal risks - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund (IMF) has cautioned Ghana regarding its fiscal challenges, emphasizing the need for restraint in spending. The IMF also advised the establishment of financial benchmarks, specifically a 55% net present value to GDP ratio and a cap of 18% on debt service as a proportion of government revenues. 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