Close Menu
  • Home
  • News
  • Business
  • Politics
  • Education
  • Sports
  • Entertainment
  • World
  • Africa
  • About/Team
  • More
    • InfoGraphics
    • Crime & Punishment
    • Tech
    • Health
    • Luxury
    • Finance
    • Law & Government
    • Religion
    • Environment
    • Media & Culture
    • Feature and Opinion
    • Home Decor
    • Fitness
    • Film & Drama
    • Ent & Arts
    • Investigative and Data insight
    • Documentary/Editorial Comments
    • Trending Stories
    • Documentary( Videos)
    • Commentary/Editorial Comments
Trending
  • What’s Behind Mahama’s Secret Plan to Send Skilled Ghanaian Workers to Europe?
  • From 90GB to 250GB? Ghana Enters a New Data Era — Communications Minister Unveils Major Changes
  • “We’re Not Part of Green Ghana”: How Kumasi’s Forgotten Slums Are Left Out of the Tree Planting Agenda
  • Malawi Hosts Groundbreaking Health Promotion Conference: A New Era in National Well-being
  • 25 Rescued, 5 Arrested in Alleged Effiakuma Kidnap Den; Victim’s Daring Escape Exposes Human Trafficking Ring
  • Cybersecurity for Sale: How AI Can Help Stop Cybercrime and Improve Agric Production in Ghana
  • Trump Demands: ‘We Want Those Names and Countries’—Slams Harvard’s Foreign Students, Says ‘They Can’t Add Two and Two”
  • “We’re Not Waiting 60 Days” — AGI Takes Immediate Steps to Make Made-in-Ghana Goods Affordable
Facebook X (Twitter) Instagram
Ghanaian WatchGhanaian Watch
  • Home
  • News
  • Business
  • Politics
  • Education
  • Sports
  • Entertainment
  • World
  • Africa
  • About/Team
  • More
    • InfoGraphics
    • Crime & Punishment
    • Tech
    • Health
    • Luxury
    • Finance
    • Law & Government
    • Religion
    • Environment
    • Media & Culture
    • Feature and Opinion
    • Home Decor
    • Fitness
    • Film & Drama
    • Ent & Arts
    • Investigative and Data insight
    • Documentary/Editorial Comments
    • Trending Stories
    • Documentary( Videos)
    • Commentary/Editorial Comments
Ghanaian WatchGhanaian Watch
Home » IMF and World Bank under pressure to rescue Ghana’s economy
Politics

IMF and World Bank under pressure to rescue Ghana’s economy

adminBy adminApril 27, 2023

In a bid to revive the economy due to a drying up of private sector funding, Ghana has appealed to the World Bank and the International Monetary Fund (IMF) for concessionary loans. These loans are given on terms that are more favorable than those available in the marketplace, such as a lower interest rate or deferred repayments. President Akufo-Addo made the appeal during a meeting with the Director General of the World Trade Organization. He stated that the state of Ghana’s economy makes it difficult to borrow from the capital market, and pleaded with the Bretton Woods institutions to act in the interest of struggling economies.

Dr. Ngozi Okonjo-Iweala, Director General of the World Trade Organization (WTO), advised struggling economies, especially those in Africa, to readjust how they conduct their affairs. She suggested a re-globalization strategy, using the opportunity to build resilience in global supply chains and to consider other developing countries as possible manufacturing destinations. She also urged Ghana to consider talking to several global supply chains to attract investment.

However, Ghana’s restructuring of its local currency and overseas debt has had a negative impact on two of the nation’s top banks. Ghana Commercial Bank PLC and Standard Chartered Bank Ghana Ltd. have both posted losses for the year to end-December. Ghana Commercial Bank PLC reported a net loss of 593.4 million cedis, its first since 1993. Standard Chartered Bank Ghana Ltd. also reported a loss of 297.8 million cedis. The banks’ losses have been attributed to the country’s restructuring of most of its public debt, estimated at 576 billion cedis.

Economy Ghana IMF loan President Akufo Addo World Bank
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email WhatsApp Copy Link

Related Posts

What’s Behind Mahama’s Secret Plan to Send Skilled Ghanaian Workers to Europe?

June 18, 2025

Mahama Commissions New NDPC, Urges Unified Vision for Ghana’s Long-Term Development

May 20, 2025

New Twist in NPP’s Future! Bawumia Leads 2028 Race—But Is His Support Fading?

April 3, 2025
Leave A Reply Cancel Reply

Top Posts

Antoa Zongo Elders Petition Antoahene Over Selection of First-Ever Sarki Zongo

March 19, 2025323

Inspector Remanded Over Shooting That Led to Senior Officer’s Death

May 18, 2025214

Antoa Tragedy: One Dead, Two Critically Injured in Motorbike-Truck Collision

March 19, 2025201

25-Year-Old Fan Jailed for Pitch Invasion During Ghana-Chad Match

March 27, 2025192
About Us

Ghanaianwatch.com is a leading investigative and development journalism news website that delivers high quality unique , innovative, and unconventional news that questions the established norms.

It is an autonomous news outlet established back in 2010 as Ghanaian Watch Newspaper and holds registration number nmc/C.I 39/10/1294.with the National Media Commission( NMC).

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

What’s Behind Mahama’s Secret Plan to Send Skilled Ghanaian Workers to Europe?

June 18, 2025

From 90GB to 250GB? Ghana Enters a New Data Era — Communications Minister Unveils Major Changes

June 10, 2025

“We’re Not Part of Green Ghana”: How Kumasi’s Forgotten Slums Are Left Out of the Tree Planting Agenda

June 8, 2025
Most Popular

Antoa Zongo Elders Petition Antoahene Over Selection of First-Ever Sarki Zongo

March 19, 2025323

Inspector Remanded Over Shooting That Led to Senior Officer’s Death

May 18, 2025214

Antoa Tragedy: One Dead, Two Critically Injured in Motorbike-Truck Collision

March 19, 2025201
Copyright © 2025 Ghanaian Watch. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.