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),...

The Sixth and Seventh Reviews under the three-year arrangement of the Extended Credit Facility observed that te Ghanaian economy performed well in 2011, but risks to macroeconomic stability have risen recently. Even though debt management capacity and policies have been strengthened, progress...

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...