Also known as: IMF · The Fund · EcoCapital Prime Fund Plc · ShEquity Climate Fund L.P. · InvestCorp Treasury Securities Fund · ITSF
International Monetary Fund — multilateral organization that assesses Ghana's state-owned enterprises, energy sector, and macroeconomic risks; flags governance and fiscal concerns in recent reports.
Verbatim sentences from the source article.
Joy Online
… IMF did not independently discover figure Sources further clarified that the GH¢21.89 billion figure published by the International Monetary Fund did not originate from an independent IMF calculation. …
DGPP’s GH¢21.89bn ‘loss’ is accounting adjustment, not cash expense – SourcesJoy Online
The International Monetary Fund (IMF) Resident Representative in Ghana, Dr Adrian Alter, has identified debt restructuring and structural reforms as key drivers of Ghana’s economic recovery under the Fund-supported programme. …
Debt restructuring key to Ghana’s economic recovery – IMFJoy Online
… According to Mr Senanu, a review of the 182-page International Monetary Fund (IMF) report cited in the debate does not support the Minority Leader’s claim that GoldBod recorded a loss. …
Afenyo-Markin may struggle to wriggle out of GoldBod loss claims – Edem SenanuThe Chronicle
… Afenyo-Markin had raised concerns about the financial implications of GoldBod’s operations, particularly losses associated with the Bank of Ghana’s Domestic Gold Purchase Programme, following an International Monetary Fund assessment indicating that the programme recorded losses …
Afenyo-Markin denies summon ReportJoy Online
… According to Professor Bokpin, the improved fiscal position was one of the reasons Ghana sought to move away from its dependence on the International Monetary Fund (IMF) under former President John Agyekum Kufuor. …
Ghana risks repeating post-HIPC debt mistakes – Prof BokpinThe Chronicle
… In a statement issued on August 22, 2026, the Deputy Minority Leader said the losses associated with the programme were not invented by the Minority but had been identified in an official report by the International Monetary Fund (IMF). …
Extortion Claim Against Afenyo Is False -Mama PatThe Chronicle
… According to the Minority Leader, the International Monetary Fund (IMF) has reported a loss of approximately US$1.7 billion under the programme in 2025. …
Unverified Allegation Of Extortion: No ‘Baga Wire’… Afenyo-Markin Says He Won’t Lose Focus On $1.7bn LossJoy Online
… Her comments come amid an increasingly heated exchange between the Minority Caucus and the Chief Executive Officer (CEO) of GoldBod, Sammy Gyamfi, over the interpretation of the International Monetary Fund’s (IMF) findings on the programme. …
GoldBod must appear before a parliamentary inquiry to answer for gold-trade losses — AppiagyeiJoy Online
… the trading done by the GoldBod and reflected in the books of the Bank of Ghana.” ‘Ghanaians deserve answers’ Mr Afenyo-Markin said the IMF’s reported figure raised a number of questions that, in his view, required answers in the public interest. “The International Monetary Fund …
GH¢22bn gold loss: Afenyo-Markin pushes for full parliamentary inquiryJoy Online
… The International Monetary Fund (IMF), in its recent assessment of the programme, said the rapid scaling-up of the DGPP had generated substantial losses for the Bank of Ghana and exposed the central bank to significant quasi-fiscal risks. …
GoldBod row: Afenyo-Markin refuses to back downDr Kwabena Bempah Tandoh, a former GES deputy director-general and NPP education spokesperson, has urged the government to keep discussions open during Ghana's constitutional review and conduct extensive consultations to secure broad public acceptance and ownership of the process.
12 September 2026 · Joy Online →
Dr Kwabena Bempah Tandoh, a former GES deputy director-general and NPP education spokesperson, has urged the government to keep discussions open during Ghana's constitutional review and conduct extensive consultations to secure broad public acceptance and ownership of the process.
12 September 2026 · Joy Online →
TUC Deputy Secretary General Dr Kwabena Nyarko Otoo attributes part of Ghana's energy-sector challenges to contractual arrangements with Independent Power Producers, and questions why government commissioned an IMF assessment of ECG without consulting workers and organised labour, given the IMF's advocacy for privatisation.
12 September 2026 · Joy Online →
JoyNews' Newsfile programme will examine Senior High School placement challenges affecting about 55,000 students, tensions over the Electricity Company of Ghana's operations, organised labour's confrontation with the World Bank, and questions over government's management of State-Owned Enterprises.
12 September 2026 · Joy Online →
The IMF has raised concerns about the politicisation of boards and chief executive appointments at Ghana's State-Owned Enterprises, saying boards of major SOEs are largely dominated by political appointees, with board chairs frequently being ministers, MPs, or prominent party officials, which the IMF says departs significantly from OECD guidelines that caution against active politicians serving on SOE boards.
11 September 2026 · Daily Guide →
The Majority Chief Whip has accused the IMF of showing political bias against the NDC government following the Fund's assessment of governance in Ghana's state-owned enterprises, arguing that the IMF criticises NDC administrations over practices also prevalent under NPP rule. The IMF report identified the politicisation of board and chief executive appointments as a major weakness, noting that appointments remain highly political and centralised in the Presidency despite Ghana's framework intended to make them merit-based.
11 September 2026 · Joy Online →
The International Monetary Fund has warned that continued appointment of active politicians to Ghana's State-Owned Enterprise boards could weaken corporate governance and accountability, citing examples including the Ghana Ports and Harbours Authority and Volta River Authority where board chairs and members are political appointees.
11 September 2026 · Joy Online →
Ten state-owned enterprises collectively recorded a net loss of GH¢8.8 billion in 2024, about 1.0% of GDP, with the Electricity Company of Ghana accounting for 85% of those losses. The IMF attributed the losses mainly to high financing costs, which reached GH¢9.4 billion—nearly six times the earnings before interest and tax.
10 September 2026 · Joy Online →
The IMF has raised concerns about the rapid build-up of liabilities across Ghana's state-owned enterprises, which have grown from GH¢35 billion (19% of GDP) in 2015 to GH¢282 billion (25% of GDP) in 2024. The Electricity Company of Ghana alone accounts for GH¢71 billion of these liabilities, making it the largest contributor to the sector's debt burden and a principal source of fiscal risk for government.
10 September 2026 · Joy Online →
The International Monetary Fund has identified the politicisation of board and chief executive appointments as a major weakness in Ghana's state-owned enterprises, warning that the practice undermines the independence and professionalism of boards despite established frameworks intended to make appointments merit-based. The IMF cited examples including the Ghana Ports and Harbours Authority, where the board was chaired by the national chairman of the governing party, and the Volta River Authority, which has prominent politicians on its board alongside technocrats, noting these arrangements depart from OECD standards that emphasise independent and professional majorities.
10 September 2026 · Joy Online →
The International Monetary Fund states that government reform efforts over the past decade have not translated into improved financial performance for State-Owned Enterprises, with energy and commodity-sector SOEs remaining sources of fiscal strain despite revenue increases from GH¢19 billion in 2015 to GH¢133 billion in 2024.
10 September 2026 · Joy Online →
Ghana's parliamentary Minority has renewed calls for an inquiry into the Ghana Gold Board, citing a World Bank economic update that described GoldBod operations as a "significant and insufficiently monitored risk" to the economy and raised concerns about how gold reserves acquired through the Domestic Gold Purchase Programme are tracked.
9 September 2026 · Joy Online →
The Public Utilities Workers Union has urged the government to take greater ownership of Ghana's energy sector challenges rather than relying heavily on IMF and World Bank prescriptions, and questioned why Independent Power Producers' pricing was not receiving greater attention in sector reform discussions.
9 September 2026 · Joy Online →
The Public Utilities Workers Union has challenged the IMF and World Bank to broaden their focus on Ghana's energy crisis to include the pricing structure of Independent Power Producers, arguing that IPP agreements and generation costs are key concerns that must be addressed for lasting energy sector stability.
9 September 2026 · Joy Online →
The Public Utilities Workers Union argues Ghana has capacity to address its energy challenges independently, suggesting focus on structural problems like power generation costs and Independent Power Producer agreements rather than external financing. The IMF estimates a US$1.1 billion sectoral financing shortfall in 2026 due to collection losses and costly generation contracts.
9 September 2026 · Joy Online →
An NPP MP and Energy Committee member says the Trades Union Congress has legitimate reasons to be cautious about World Bank proposals for private sector participation in ECG and NEDCo operations, but distinguishes this from full privatisation and notes the party supports private involvement if it improves efficiency and reliability.
8 September 2026 · Joy Online →
An analysis of Robert Mugabe's life from his birth in 1924 through his death in 2019, tracing his transformation from schoolteacher to revolutionary who led Zimbabwe's independence from Rhodesian rule in 1980 and his subsequent nearly four decades in power before his removal by the military in 2017.
7 September 2026 · Joy Online →
Veteran journalist Kwesi Pratt Jnr has urged African youth to reject externally driven political narratives and unite to challenge exploitation, neocolonialism, and extraction of the continent's natural resources. He criticized African governments for entering defence and intelligence cooperation agreements with Western powers and external actors, arguing that African countries should prioritise their own sovereignty and interests.
5 September 2026 · Joy Online →
Humphrey Abbey Quaye, coordinator of the Pan-African Progressive Front, has called on African youth to intensify campaigns for debt cancellation and reparations at a forum in Accra, arguing that Africa's debt burden stems from slavery, colonialism, and neocolonial control rather than poor economic management.
5 September 2026 · Joy Online →
Ghana's State-Owned Enterprises posted a combined net profit after tax of GH¢19.80 billion in 2025, a sharp turnaround from a GH¢2.25 billion loss in 2024, but a Banking and Corporate Governance Consultant argues the gains reflect foreign-exchange performance and reduced finance costs rather than improved operational efficiency.
3 September 2026 · Joy Online →
Banking consultant Dr Richmond Atuahene argues that recent rises in banking sector profits are largely attributable to foreign exchange gains rather than operational efficiency, cautioning that sustainability is questionable if the cedi depreciates.
3 September 2026 · Joy Online →
NDC National Chairman Johnson Asiedu Nketia claimed that the IMF and countries that previously purchased gold from Ghana are uncomfortable with the government's gold-purchasing programme, saying the initiative has attracted international attention and should not be undermined by implementation controversies. He did not provide specific evidence for the claim.
2 September 2026 · Joy Online →
Former Finance Minister Dr. Mohammed Amin Adam alleged that Ghana's total loss from the gold purchasing programme in 2025 was US$1.9 billion when including US$150 million in foregone tax revenue from the scrapped withholding tax on unprocessed small-scale gold, not the reported US$1.7 billion in trading losses alone.
2 September 2026 · The Chronicle →
National Democratic Congress chairman Johnson Asiedu Nketia rejected opposition criticism of the Ghana Gold Board, describing it as political distraction from the government's gold purchase programme. The NPP has questioned the institution's financial performance, with Minority Leader Alexander Afenyo-Markin citing reported losses of about GH¢1.7 billion, though the GoldBod CEO has rejected the claim.
1 September 2026 · Joy Online →
Former Finance Minister Dr Mohammed Amin Adam disputed claims that Ghana's gold purchase programme significantly boosted foreign exchange reserves, citing Bank of Ghana data showing gold contributed only US$60.9 million (1.3%) of a US$4.716 billion reserves increase, while actual gold holdings fell 39% from 30.5 tonnes to 18.6 tonnes.
1 September 2026 · Joy Online →
Former Finance Minister Amin Adam says Ghana's gold purchase programme lost about 17 per cent of the value of raw gold sold by the Bank of Ghana, despite gold prices rising 62.9 per cent in 2025. He attributes the losses to exchange rate differences, discounts to foreign buyers, and transaction fees rather than market conditions.
1 September 2026 · Joy Online →
Former Finance Minister Dr Mohammed Amin Adam has called for full disclosure and accountability regarding reported losses in Ghana's gold trading programme, citing discrepancies between figures in the IMF Country Report (approximately GH¢22 billion economic cost), the Bank of Ghana's reported loss (GH¢9.05 billion), and GoldBod's reported surplus. Dr Amin Adam said the NPP is seeking answers and supporting documents, including a formal reconciliation of these figures from the relevant institutions.
1 September 2026 · Joy Online →
Ghana paid GH¢10.82 billion to Domestic Debt Exchange Programme bondholders on 19 August 2026 entirely in cash, bringing total DDEP payments since 2025 to GH¢41.36 billion. The article traces Ghana's debt crises from independence through the 2022 DDEP, during which the government had to restructure obligations held by domestic banks, pension funds, insurers, institutions and citizens.
1 September 2026 · The Ghanaian Times →
Ghana is engaging multiple foreign powers—Russia, the US, China, the EU, and the UK—in negotiations over trade, investment, energy, defence, and mineral exploration, reflecting a strategy of diplomatic diversification rather than alignment with a single partner. The article examines how Ghana uses its resources and strategic position to bargain with competing powers while managing the risk of shifting dependence rather than achieving genuine autonomy.
1 September 2026 · Joy Online →
The NPP UK branch has called for a full independent forensic audit into Ghana's domestic gold purchasing transactions, welcoming a parliamentary inquiry but emphasising it must be informed by objective financial evaluation conducted by non-partisan experts to avoid politicisation.
31 August 2026 · Joy Online →
Minority Leader Alexander Afenyo-Markin has denied that his concerns over the GoldBod and Domestic Gold Purchase Programme target any individual, stating his criticism is directed at the institution and how the programme is being implemented. He said the Minority supports the initiative but is concerned about losses arising from its implementation and referenced IMF concerns about the programme.
31 August 2026 · The Ghanaian Times →