IMF says Ghana should change law to prevent monetary financing
Directors commend recent progress in reducing inflation but call for stronger safeguards
The executive board of the International Monetary Fund has said Ghana should introduce legislation to prevent the country’s central bank from financing the government’s fiscal deficit.
“The decision to extend and publish the memorandum of understanding on zero financing of the government by the Bank of Ghana is welcome,” the IMF’s executive directors said in their report on their latest article IV consultation with the country. But they added that “additional amendments to the Bank of Ghana Act
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