{"id":4880,"date":"2024-04-24T13:48:51","date_gmt":"2024-04-24T13:48:51","guid":{"rendered":"https:\/\/sotnews.agency\/?p=4880"},"modified":"2024-04-25T01:53:16","modified_gmt":"2024-04-25T01:53:16","slug":"finance-minister-discusses-bilateral-relations-economic-devt-in-ghana-with-assistant-secretary-intl-finance-at-us-treasury","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=4880","title":{"rendered":"Finance Minister discusses bilateral relations & economic dev\u2019t in Ghana with Assistant Secretary, Int\u2019l Finance at US Treasury"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>4 Minute, 5 Second <\/div>\n\n <\/div>

The Ghanaian delegation at the 2024 World Bank, International Monetary Fund (IMF) Spring Meetings in Washington led by the Finance Minister Dr Mohammed Amin Adam met with Brent Neiman, Assistant Secretary, of International Finance at the US Treasury.<\/strong><\/p>\n

They discussed bilateral relations and recent economic development in Ghana.<\/p>\n

IMF\/WORLD BANK SPRING MEETINGS<\/p>\n

The Ghanaian delegation led by Dr Mohammed Amin Adam met with the Brent Neiman, Assistant Secretary, International Finance at the US Treasury where they discussed bilateral relations and recent economic development in Ghana. pic.twitter.com\/rxIWm8rbBv<\/a><\/p>\n

\u2014 Ministry of Finance, Ghana (@MoF_Ghana) April 23, 2024<\/a><\/p>\n\n

The Ghanaian delegation also held discussions with US International Development Finance Corporation (DFC) which is America\u2019s development finance institution.<\/p>\n

They invest across sectors including energy, healthcare, critical infrastructure, and technology.<\/p>\n

Ghanaian Delegation holds discussions with US International Development Finance Corporation (DFC).<\/p>\n

The DFC is America\u2019s development finance institution. They invest across sectors including energy, healthcare, critical infrastructure, and technology. pic.twitter.com\/PIC8EUJCLq<\/a><\/p>\n

\u2014 Ministry of Finance, Ghana (@MoF_Ghana) April 22, 2024<\/a><\/p>\n\n

The Minister for Finance, Dr Mohammed Amin Adam while speaking to the Ghanaian media in Washington DC highlighted\u00a0 the global financial leadership\u2019s positive outlook of\u00a0 Ghana\u2019s economy.<\/p>\n

According to him, the positive remarks from the bilateral engagements with World leaders including the IMF Managing Director Kristalina Geogieva and World Bank President Ajay Banga were testament to Ghana\u2019s rebounding economy.<\/p>\n

The positive outlook and assurances from the meetings, the finance minister indicated, had informed the country\u2019s external partners\u2019 confidence and eagerness to disburse funds as soon as\u00a0 the government reached agreement with its official creditors and conclude the external debt restructuring.<\/p>\n

the Minister noted that, the measures adopted by government to restore macroeconomic stability and build resilience through the implementation of the PC-PEG under the Extended Credit Facility (ECF) in May 2023 were already yielding the desired results.<\/p>\n\n

\u201cThese measures have delivered very favourable macroeconomic outcomes in just one year, these include: more than anticipated growth performance in GDP growth with GDP ending 2023 at 2.9% compared to the original target of 1.5% and the revised target of 2.3%,\u2019\u2019 he said.<\/p>\n

He noted that inflation was declining by 30.9 percentage points to 23.2% at the end of December 2023 after peaking at 54.1% in December 2022 and further added that \u201cwe have seen good progress in inflation in 2024, as well as it maintained its rate of 23.2% in February 2024 but increased slightly to 25.8% in March 2024 due mainly to the base effect\u201d<\/p>\n

Other reliving outcomes of the programme, the Minister acknowledged, included the relative stability of the Cedi against the major trading currencies,\u00a0 Improvement in the Public Debt trajectory as the debt to GDP ratio reduced to 71.4% of GDP at the end of 2023 from 73.5% of GDP at the end of 2022,\u00a0 improvement in fiscal balances indicating a strong drive towards fiscal consolidation.<\/p>\n

\u201cThe primary balance (on commitment basis) which is the fiscal anchor under the program improved from a deficit of 4.3% of GDP at the end of 2022 to a deficit of 0.3% of GDP at the end of 2023. The 2023 outturn was lower than the target deficit of 0.5% of GDP\u201d the former Minister of State said.<\/p>\n

These impactful measures the minister noted, featured prominently in discussions with the IMF, World Bank Group and other bilateral meetings attracting commendations from our partners.<\/p>\n

Dr Mohammed Amin Adam, the Minister for Finance led a high level government delegation including the Governor of the Central Bank, Dr Ernest Addison to Washington DC to attend the 2024 IMG\/World Bank Spring Meetings under the theme \u201cvision to impact\u201d.<\/p>\n

The Minister for Finance who is the chair of the Vulnerable 20 Group of Finance Ministers hinted of the group\u2019s discussion targeted at intensifying national and regional measures through Climate Prosperity Plans.<\/p>\n

The plans, according to the Minister were aimed at transforming the development trajectory of vulnerable economies into one that was capable of thriving despite challenges.<\/p>\n

\u201cThe 2024 Spring 2024 Spring Meetings concluded with a strong reaffirmation of the V20\u2019s commitment to intensify global engagement and collaboration. There was a strong push for the operationalization of the Climate Vulnerable Forum\u2019s (CVF) objectives through global initiatives like the Accra-Marrakech Agenda and the Bridgetown Initiative\u201d he underscored.<\/p>\n

Ghana\u2019s leadership of the V20 and the Climate Vulnerable Forum ends in May, when Barbados takes over as Chair.<\/p>\n

The Minister disclosed that, an initial meeting had been held with Prime Minister of Barbados, Mia Mottley to ensure seamless transition of leadership with both sides looking at a day in June 2024 for the official handover ceremony.<\/span><\/p>\n

The post Finance Minister discusses bilateral relations & economic dev\u2019t in Ghana with Assistant Secretary, Int\u2019l Finance at US Treasury<\/a> first appeared on 3News<\/a>.<\/p>

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The Ghanaian delegation at the 2024 World Bank, International Monetary Fund (IMF) Spring Meetings in Washington led by the Finance Minister Dr Mohammed Amin Adam met with Brent Neiman, Assistant… <\/p>\n","protected":false},"author":1,"featured_media":4914,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"yes","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-4880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/4880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4880"}],"version-history":[{"count":1,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/4880\/revisions"}],"predecessor-version":[{"id":4916,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/4880\/revisions\/4916"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/media\/4914"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}