http://www.africa-economics.com/file/2015/05/Ghana-and-the-IMF_Africa-Economics-Report_Final.pdf Ghana Secures IMF Programme But Difficult Times Lie Ahead of the 2016 Elections
Background
Ghana announced in April 2015 that it had concluded an agreement with the IMF to receive an estimated US$918 million three-year Extended Credit Facility (ECF).
Implications
The IMF bailout programme should lend policy credibility to the Ghana Government’s effort to create short-term fiscal breathing space, pending efforts to balance the economy and reduce other systemic risks
Outlook
(1) Ghana faces stark choices with this new IMF programme juxtaposed against its high stakes political environment and impending elections in December 2016.
(2) Commodity price fluctuations, wavering political will and power-supply challenges will make it unlikely that the government will attain some of its major fiscal targets in 2015 and 2016.
http://www.africa-economics.com/file/2015/05/Ghana-and-the-IMF_Africa-Economics-Report_Final.pdf
