{"id":136218,"date":"2015-07-21T05:45:45","date_gmt":"2015-07-21T05:45:45","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=136218"},"modified":"2015-07-21T05:40:33","modified_gmt":"2015-07-21T05:40:33","slug":"tekper-presents-mid-year-budget-review-today","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=136218","title":{"rendered":"Tekper presents mid-year budget review today\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0"},"content":{"rendered":"

The Finance Minister Seth Terkper will today [Tuesday], account to Parliament, the first five months of government\u2019s implementation of the 2015 budget.<\/p>\n

This follows government\u2019s attempts to manage a rather difficult situation amidst falls in global crude oil prices which forced government to readjust it for the year under review.<\/p>\n

\"BoG<\/a>
Members of Ghana’s economic management team: BoG Govenor, Dr. Wampah, Vice President Amissah-Arthur and Finance Minister, Seth Terkper<\/figcaption><\/figure>\n

The situation is already said to have had negative impact on government\u2019s curren account balance and foreign reserves.<\/p>\n

IMF bailout programme<\/strong><\/p>\n

[contextly_sidebar id=”UYlR50SpQyEjzbqQgrTJX5LeyQRXltrm”]In February 2015, government secured US$918 million deal from the IMF to help government turn around the country’s ailing economy by helping to stabilise the cedi and reduce the fiscal deficit.<\/p>\n

Some economists and analysts have also indicated that the money is not enough to fix the economy while some civil society groups have called for a renegotiation of the IMF programme, suggesting that the macro-economic targets are overly ambitious and will bring hardship on Ghanaians.<\/p>\n

Government however has categorically stated that it will under no circumstance renegotiate the 3-year bailout programme.<\/p>\n

The Minister of Finance, Seth Terkper pointed out that renegotiating the terms of the deal at this point is impossible since Ghana is already on track.<\/p>\n

He explained that the bailout is not \u201can imposition and I believe we are on track in the first review so are they calling for a renegotiation at this stage? It will not be helpful.\u201d<\/p>\n

Cedi’s performance<\/strong><\/p>\n

Ghana’s cedi has depreciated in excess of 26 percent against the dollar in 2015 alone.<\/p>\n

The Bank of Ghana has assured that it will inject $20 million days a day to help revive the local currency.<\/p>\n

–<\/p>\n

By: citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

The Finance Minister Seth Terkper will today [Tuesday], account to Parliament, the first five months of government\u2019s implementation of the 2015 budget. This follows government\u2019s attempts to manage a rather difficult situation amidst falls in global crude oil prices which forced government to readjust it for the year under review. The situation is already said […]<\/p>\n","protected":false},"author":24,"featured_media":101961,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[43,38,21,4],"class_list":["post-136218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-foresight-medical-center","tag-palaver-newspaper","tag-psychiatric","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/136218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=136218"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/136218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/101961"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=136218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=136218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=136218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}