- Speakers
- Joy Business News AnchorHostBusiness Desk ReporterGeorge Affi
IMF Managing Director Kristalina Georgieva is worried about rising energy prices and their impact on developing countries like Ghana, particularly in the form of rising debt levels.
The managing director of the IMF, uh, expressed concern about rising crude oil prices and their impact on developing countries.
She made the remarks at the launch of the fund's global policy agenda in Bangkok, Thailand, on the sidelines of the ongoing IMF World Bank meetings.
Who is taking the biggest hit? Low-income countries and fragile and conflict-affected states, especially those that are energy importers and/or left out of the technology boom.
What is our loudest call to policymakers right now? Make urgent repairs to the fiscal house before the cracks widen.
Now is the time to enhance revenues, to rationalize spending, and improve public financial management.
As energy and food prices rise, protect people, not prices.
Meanwhile, the International Monu-Monetary Fund is making a strong case for Ghana to fast-track ongoing tax reforms to help improve revenue collection.
This is what Joy Business has picked up from the ongoing annual meetings of the World Bank and the IMF in Bangkok, Thailand.
George Affi has more.
This because when you look at our level of economic activities currently taking place in Ghana, it doesn't match up to the country's tax level, especially when you take a look at the tax GDP ratio.
The fund again maintains that they are not necessarily pushing for an increase in tax rates, but rather programs initiatives that would help widen the tax net in Ghana and bring more persons on board.
The fund believes that improving revenue collections could go a long way to deal with our debt levels and even bring it down further to sustainable levels and even reduce our appetite to borrow on the international market and on the domestic market because of its impact of crowding out the private sector.
According to the Bank of Ghana July monetary policy report, government revenue performance improved in the first half of two thousand and twenty-six but was below target.
IMF Managing Director Kristalina Georgieva is worried about rising energy prices and their impact on developing countries like Ghana, particularly in the form of rising debt levels.
The managing director of the IMF, uh, expressed concern about rising crude oil prices and their impact on developing countries.
She made the remarks at the launch of the fund's global policy agenda in Bangkok, Thailand, on the sidelines of the ongoing IMF World Bank meetings.
Who is taking the biggest hit? Low-income countries and fragile and conflict-affected states, especially those that are energy importers and/or left out of the technology boom.
What is our loudest call to policymakers right now? Make urgent repairs to the fiscal house before the cracks widen.
Now is the time to enhance revenues, to rationalize spending, and improve public financial management.
As energy and food prices rise, protect people, not prices.
Meanwhile, the International Monu-Monetary Fund is making a strong case for Ghana to fast-track ongoing tax reforms to help improve revenue collection.
This is what Joy Business has picked up from the ongoing annual meetings of the World Bank and the IMF in Bangkok, Thailand.
George Affi has more.
This because when you look at our level of economic activities currently taking place in Ghana, it doesn't match up to the country's tax level, especially when you take a look at the tax GDP ratio.
The fund again maintains that they are not necessarily pushing for an increase in tax rates, but rather programs initiatives that would help widen the tax net in Ghana and bring more persons on board.
The fund believes that improving revenue collections could go a long way to deal with our debt levels and even bring it down further to sustainable levels and even reduce our appetite to borrow on the international market and on the domestic market because of its impact of crowding out the private sector.
According to the Bank of Ghana July monetary policy report, government revenue performance improved in the first half of two thousand and twenty-six but was below target.
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