IMF Bailout Package ‘Ghana’ Go
Fishermen and colorful boats on beach near Accra in Ghana in West Africa

The International Monetary Fund’s Executive Committee approved a bailout package for Ghana approaching US$1 billion. For many years, Ghana was known as the predominant African success story, with a booming economy and a government that has undergone five peaceful transitions. But in recent years both government spending and the economy have been a mess. The new bailout package requires stringent controls on the size of the government, cuts energy subsidies and adds tax to petroleum. There are already concerns that Ghana isn’t going to meet some of the conditions of the bailout.

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