GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
No Result
View All Result
Home Top Stories

IMF Lauds NPP’s Tax Cuts Reforms

February 10, 2017
in Top Stories
Share on FacebookShare on Twitter

The International Monetary Fund (IMF) is confident the plans outlined by the NPP government to cut down and eliminate some taxes will restore fiscal discipline, promote debt sustainability and support private sector development.

You Might Also Like

Prominent Ghanaian Leaders and Clergy Honor Late Apostle Dr. Michael Kwabena Ntumy at State House Funeral

Vice President Bawumia Shares Inspiring Journey from Oxford University to Political Success

The Diverse Currencies of Africa: Impact on Economic Growth

The fund argues that such decisions should also help reduce the large fiscal slippages observed last year.

A statement released by the visiting IMF team whose meeting ended today [February 10, 2017], however, indicated that Ghana’s economy continues to face challenges.

According to the team, though the country’s 2016 estimated economic growth of 3.6% exceeded the Fund’s target of 3.3%, it says the decline in inflation has been slower than expected.

“The large fiscal slippages observed last year will, indeed, require strong efforts of fiscal consolidation to support debt sustainability. The new government’s intentions to reduce tax exemptions, improve tax compliance and review the widespread earmarking of revenues should help in this regard.”

“We welcome the new government’s intention to conduct a full audit of outstanding obligations, its commitment to transparency and its readiness to take strong remedial actions to ensure the integrity of the PFM systems going forward,” the statement by the visiting team added.

Meanwhile, the IMF wants the government to address the large financial imbalances of state-owned enterprises in the energy sector with urgency to avoid the buildup of contingent liabilities for the new government.

“The large financial imbalances of state-owned enterprises in the energy sector also need to be addressed with urgency to avoid the buildup of contingent liabilities for the new government. We welcome the new government’s commitments to encourage its departments and agencies to implement growth-enhancing reforms in a fiscally sustainable manner.”

In addition, the IMF has demonstrated its readiness to support the government achieve economic stability.

“We look forward to working closely with the new government in their efforts to design the required policies for restoring macroeconomic stability, high and sustainable growth and job creation.”

The team led by Toujas-Bernaté met with Vice President Dr. Mahamudu Bawumia; Senior Minister Hon. Yaw Osafo-Maafo; Finance Minister Hon. Kenneth Ofori-Atta; Minister of Food and Agriculture Hon. Dr. Owusu Afriyie Akoto; Bank of Ghana Governor Dr. Abdul-Nashiru Issahaku; other senior officials; and Ghana’s development partners.

Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

(Via: CitiFM Online Ghana)

Tags: Abdul-Nashiru Issahakuausteritybank of ghanaBusiness_FinanceEconomic developmenteconomyenergy sectorFinance MinisterFiscal policyghanaGovernorHonInternational DevelopmentInternational Monetary FundKenneth Ofori AttaMahamudu BawumiaministerOwusu Afriyie AkotopoliticsUnited NationsUnited Nations Development GroupUnited Nations Economic and Social CouncilVice President

Related News

Prominent Ghanaian Leaders and Clergy Honor Late Apostle Dr. Michael Kwabena Ntumy at State House Funeral

Prominent Ghanaian Leaders and Clergy Honor Late Apostle Dr. Michael Kwabena Ntumy at State House Funeral

by ghanastar
February 25, 2024
0

In a poignant ceremony held on Saturday, February 24, 2024, at the Forecourt of the State House, hundreds of mourners...

Vice President Bawumia Shares Inspiring Journey from Oxford University to Political Success

Vice President Bawumia Shares Inspiring Journey from Oxford University to Political Success

by ghanastar
June 17, 2023
0

In a heartfelt revelation of his life's journey, the Vice President of the Republic, His Excellency Dr. Mahamudu Bawumia, spoke...

The Diverse Currencies of Africa: Impact on Economic Growth

The Diverse Currencies of Africa: Impact on Economic Growth

by ghanastar
June 17, 2023
0

Africa, a continent rich in cultural diversity, is home to a vast array of currencies. With 54 recognized countries, each...

Suicide at Aburi Botanical Gardens: Man Found Dead

Suicide at Aburi Botanical Gardens: Man Found Dead

by ghanastar
January 14, 2023
0

A man, believed to be in his fifties, has died by suicide in the Aburi Botanical Gardens in the Eastern...

Next Post

New Action Coming On Security Next Week

Kellyanne Conway Apologized To Donald Trump After Ivanka Clothing Line Comments

Categories

  • Africa & World
  • African Music Lyrics Directory
  • Business
  • Business Directory
  • celebrities
  • Computing
  • Diaspora
  • Entertainment
  • Events
  • Feature
  • Featured
  • Ghana Elections 2016
  • Headlines
  • Health
  • International
  • Internet
  • Jobs
  • lifestyle
  • Music
  • News
  • Offbeat
  • Opinion
  • Politics
  • Profiles
  • Religion
  • Security
  • Seth Terkper
  • Smart Home
  • Social Networks
  • Sports
  • Technology
  • Top Stories
  • World News

Tags

accra addo africa Association football Banks - NEC business Business_Finance chairman Donald Trump economy education Entertainment_Culture environment Geography of Africa ghana Ghanaian people government Government of Ghana Human Interest John Dramani Mahama john mahama Law_Crime mahama minister MPs elected in the Ghanaian parliamentary election Nana Addo Nana Addo Dankwa Nana Akufo-Addo National Democratic Congress National Democratic Congress (NDC) New Patriotic Party New Patriotic Party (NPP) nigeria politics Politics of Ghana president Social Issues Social Media Social Media & Networking sports United Kingdom United Nations United States Vice President War_Conflict

Recent Posts

  • Government of Ghana Unveils Official Portraits of President John Dramani Mahama and Vice President Prof. Naana Jane Opoku-Agyemang
  • Who Is the Woman (Sheena Gakpe) in Sarkodie’s Latest Hit “No Sir” and Why Everyone Is Talking about It
List of Ghana Holidays for 2020
Ghana Geocoding
Ghana Cedis Exchange API
Ghana Maps Service
Toyota Cars Auto Auction History
  • African Music Lyrics Directory
  • Business Directory
  • Diaspora
  • Top Stories

All rights reserved © 2021 GhanaStar.com

No Result
View All Result
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music

All rights reserved © 2021 GhanaStar.com