Ghana says to miss 2016 targets on growth, deficit reduction

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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)
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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)

 

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