Ghana: Staff Report for the 2003 Article IV Consultation, and Requests for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility and for Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries
Volume/Issue:
Volume 2003
Issue 133
Publication date: May 2003
ISBN: 9781451814842
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Topics covered in this book
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Business and Economics , Political Science , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , net , PRGF loan , GPRS outcome , spending priority , completed Ghana Poverty Reduction Strategy , performance target , Inflation , Oil prices , Middle East , West Africa , Global
Summary
This paper assesses Ghana’s 2003 Article IV Consultation, and Requests for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and for Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries (HIPC). Program implementation in 2002 was mixed. Further gains were made on inflation, and the reserve accumulation target was met. In view of the strength of the authorities’ program, including the prior actions to be taken, the IMF staff supports the request for a three-year PRGF arrangement in the amount of SDR 184.5 million, and for additional interim HIPC relief.
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