Authors :
Dr. Gideon Asamoah Tetteh
Volume/Issue :
Volume 8 - 2023, Issue 4 - April
Google Scholar :
https://bit.ly/3TmGbDi
Scribd :
https://shorturl.at/qGMZ4
DOI :
https://doi.org/10.5281/zenodo.8281614
Abstract :
- Donor Agencies are organizations providing
financial assistance to different countries to meet their
economic and social goals despite resource constraints. A
key example of donor organizations that has benefited
many countries across Africa specifically, Ghana is the
International Monetary fund (IMF). IMF is an
organization that focuses on providing financial assistance
to its member countries to achieve specific goals that will
improve the growth of the country's economy. IMF targets
the country to implement strategies or programs that will
achieve sustainable growth and prosperity of the country's
economy. Since 1957, Ghana has been a member of IMF
receiving financial assistance and advice in formulating
financial policies that lead to economic growth (IMF,
2019b). Despite the witnessed economic challenges in
Ghana, IMF has been an important donor and lender to
Ghana over the decades. In Ghana, key economic
challenges include poverty, low-income levels, and
unemployment. IMF in its relations with Ghana, therefore,
focuses on funding programs targeted at increasing
productivity, job creation, and overall economic wellbeing
of the country.
IMF (2022) website provides essential data regarding
the projected economic growth that Ghana will achieve
from financing and implementing economic policies as
advised by IMF. From IMF website, the projected real
gross domestic product rate for Ghana is estimated to be
5.2%. As of 30th June 2022, the outstanding purchases and
loans from IMF for Ghana stood at $1331.09 million. The
country's consumer price index was also projected to
change at 16.3%. Ghana has had over 15 purchases and
loan arrangements with IMF since becoming a member in
1957. In IMF, Ghana has special drawing rights of $654.51
million with a quota of $738.0 million (IMF.org, 2022). The
data herein shows that there is a positive relationship
between IMF and Ghana over the years which is expected
to continue in the future. Ghana’s economic challenges
have been addressed by inputs from IMF in various forms
as explained below.
- Donor Agencies are organizations providing
financial assistance to different countries to meet their
economic and social goals despite resource constraints. A
key example of donor organizations that has benefited
many countries across Africa specifically, Ghana is the
International Monetary fund (IMF). IMF is an
organization that focuses on providing financial assistance
to its member countries to achieve specific goals that will
improve the growth of the country's economy. IMF targets
the country to implement strategies or programs that will
achieve sustainable growth and prosperity of the country's
economy. Since 1957, Ghana has been a member of IMF
receiving financial assistance and advice in formulating
financial policies that lead to economic growth (IMF,
2019b). Despite the witnessed economic challenges in
Ghana, IMF has been an important donor and lender to
Ghana over the decades. In Ghana, key economic
challenges include poverty, low-income levels, and
unemployment. IMF in its relations with Ghana, therefore,
focuses on funding programs targeted at increasing
productivity, job creation, and overall economic wellbeing
of the country.
IMF (2022) website provides essential data regarding
the projected economic growth that Ghana will achieve
from financing and implementing economic policies as
advised by IMF. From IMF website, the projected real
gross domestic product rate for Ghana is estimated to be
5.2%. As of 30th June 2022, the outstanding purchases and
loans from IMF for Ghana stood at $1331.09 million. The
country's consumer price index was also projected to
change at 16.3%. Ghana has had over 15 purchases and
loan arrangements with IMF since becoming a member in
1957. In IMF, Ghana has special drawing rights of $654.51
million with a quota of $738.0 million (IMF.org, 2022). The
data herein shows that there is a positive relationship
between IMF and Ghana over the years which is expected
to continue in the future. Ghana’s economic challenges
have been addressed by inputs from IMF in various forms
as explained below.