(MENAFN- Qatar News Agency) The International Monetary Fund (IMF) has urged Ghana to improve its revenue collection, reduce the high public wage bill, and rebuild foreign exchange reserves.
IMF Deputy Managing Director Naoyuki Shinohara expressed his comments following his meeting with President Mahama, Vice-President Amissah-Arthur, Finance Minister Terkper, and Bank of Ghana Governor Wampah, to discuss Ghana's economic prospects during his official visit to Accra from October 27 to 29
Shinohara also attended a conference on 'Opportunities and Challenges of Financial Integration in West Africa', co-hosted by the Government of Ghana and the IMF
Top policymakers from the Economic Community of West African States (ECOWAS) participated in the conference
Ghana's medium-term prospects are favorable, some short-term risks and challenges need to be addressed, he said and agreed with the authorities on the need to tackle the problems in the energy sector, reduce fiscal risks, provide space for higher social spending and investment in critical infrastructure
The IMF stands ready to support Ghana in its efforts to meet macroeconomic challenges, he added.
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