Ghana says to miss 2016 targets on growth, deficit reduction

Last updated: February 4, 2017 7:56 am

1 Min Read

A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar. Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange. AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

ACCRA (Reuters) – Ghana will miss 2016 targets on growth, fiscal deficit reduction and its primary balance but is committed to restoring fiscal discipline and eliminating overexpenditure, Finance Minister Ken Ofori-Atta said on Friday.

The new government is also committed to a three-year $918 million International Monetary Fund programme aimed at restoring fiscal balance and promoting growth, Ofori-Atta told reporters.

(Reporting by Matthew Mpoke Bigg and Kwasi Kpodo; Editing by Louise Ireland)

Share This Article

By9News Nigeria

Follow:

9News Nigeria is Nigeria's favourite news source. For Authentic, Unbiased News on Politics, Business, Sports, Technology, Entertainment and Lifestyles, Health, Nollywood, Crime and Investigations, Family and Relationships, Inspirations .. and much more. For Latest News from Africa and around the world, 9News Nigeria is your best source. WhatsApp +2348115805632 Email: [email protected] Facebook: www.facebook.com/9NewsNG | Twitter/Instagram: @9newsng