The IMF Bailout And Ghana COCOBOD
In May, the International Monetary Fund made public the full report on Ghana’s request for a bailout. I wrote back then, highlighting aspects of the report and the challenges ahead for the government. I revisit the concerns raised about the operations of COCOBOD and the demand for reforms. This is what the report said, “Ghana’s […]
Why does the IMF include the debt of state-owned enterprises in Ghana’s public debt?
If we lived in a world in which our SOEs were well managed and independent, they had no cashflow problems, were profitable, did not depend on government bailouts, and easily serviced their debts, they would pose no fiscal risks to the government’s ability to manage non-SOEs public debt. There may be no need to include […]
The IMF Bailout
On July 1, 2022, the Government of Ghana announced it was heading to the International Monetary Fund (IMF) to seek an Enhanced Credit Facility (ECF) or what is commonly known as an “IMF Bailout”. In the official communication from the Ministry of Information that day, the government’s decision was stated as follows “The engagement with […]
