The Ghanaian economy suffered a fallout from the large terms-of-trade shock that began in 1999. The fiscal program adopted is prudent and faces up to the country's difficult economic circumstances. Effective control of public expenditure commitments will be essential to the success of the...

The report gives the details of the Ghanaian authorities’ request for modification of the performance criterion under the Extended Credit Facility (ECF)-supported program. The proposed loan involves borrowing at nonconcessional terms. The authorities’ request is with the intention to...

All quantitative and structural performance criteria for end-June 2003 were observed. These positive results reflect several factors, including improved public expenditure management and strengthened revenue administration (offsetting delays in some of this year's new revenue measures),...