The International Monetary Fund (IMF) has clarified a statement by its\u00a0Deputy Director of Fiscal Affairs Department Sanjeev Gupta, which contradicted figures from the Bank of Ghana about the country’s real debt to GDP ratio.<\/p>\n
[contextly_sidebar id=”RMSqGYP3ZH8leJLZYfExRKE3ZdCyWxnS”]On October 8, at a press briefing on the Fiscal Monitor, IMF\u2019s Deputy Director of Fiscal Affairs Department,\u00a0Sanjeev Gupta\u00a0said Ghana\u2019s debt to GDP was actually 71% contrary to the 55% put out by the government.<\/p>\n
His statement created apprehension among Ghanaians<\/strong><\/span><\/a> and a member of Parliament’s Finance Committee, Kwaku Kwarteng said it confirmed his suspicion that government had been lying<\/strong><\/span><\/a> to the IMF about the true state of Ghana’s economy and the country’s macro economic figures.<\/p>\n But in a release from the\u00a0Communications Department of the IMF,\u00a0copied to\u00a0citifmonline.com <\/strong>and\u00a0signed by\u00a0Ismaila Dieng, the IMF clarified that Sanjeev Gupta’s statement was rather their projected figure for 2015. “The latest actual figure available to IMF staff for end-2013 is equivalent to 56 percent of GDP, consistent with the figures released by the Bank of Ghana.\u201d<\/strong><\/p><\/blockquote>\n The statement further said: “The number (71%) corresponds to the level projected at end-2015 under our baseline scenario published in the World Economic Outlook, which assumes the continuation of current economic policies (very gradual fiscal adjustment in 2015, a more depreciated exchange rate, and lower growth related to remaining high vulnerabilities).”<\/p>\n Industry players had warned government to\u00a0present the true state of the economy<\/strong>\u00a0<\/span><\/a><\/span>to the IMF after a former Deputy Governor of the central bank\u00a0challenged the inflation and exchange rate figures<\/strong><\/span><\/a><\/span>\u00a0put out by the central bank and the Ghana Statistical Service (GSS).<\/p>\n Dr. Bawumia alleged that the level of hardship, and the cost of living for Ghanaians did not correspond with the picture government painted about the economy.<\/p>\n –<\/p>\n By: Nana Boakye-Yiadom\/citifmonline.com\/Ghana<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The International Monetary Fund (IMF) has clarified a statement by its\u00a0Deputy Director of Fiscal Affairs Department Sanjeev Gupta, which contradicted figures from the Bank of Ghana about the country’s real debt to GDP ratio. [contextly_sidebar id=”RMSqGYP3ZH8leJLZYfExRKE3ZdCyWxnS”]On October 8, at a press briefing on the Fiscal Monitor, IMF\u2019s Deputy Director of Fiscal Affairs Department,\u00a0Sanjeev Gupta\u00a0said Ghana\u2019s […]<\/p>\n","protected":false},"author":25,"featured_media":1896,"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-55377","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\/55377","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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55377"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/55377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/1896"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/strong><\/p>\n