The Ministry of Finance says there is no inconsistency between the International Monetary Fund (IMF) and the government’s position on Ghana’s debt computation.
An IMF statement recently quoted Ghana’s public debt as a percentage of gross domestic product for 2020 as 78%. But data from the government as of 31 December 2020 estimated the country’s debt at GHC291.61 billion, representing 76.1% of GDP.
A statement from the Ministry of Finance issued on Tuesday (18 May) said, “The mission [IMF] was highly successful and considered the risks arising from the COVID-19 pandemic on Ghana Government’s containment interventions and the areas that need further attention due to the exacerbated nature of the interventions to combat the pandemic.”
The statement added, “Despite this positive development, reports from some media outlets seek to create the impression that the IMF disagrees with the Government of Ghana (GoG) on the computation of Ghana’s public debt.
“The Ministry of Finance hereby informs the general public that there is no inconsistency between the IMF and GoG position on debt computation,” the statement said.
Read the full statement below:
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