Ghana's parliament on
Tuesday overwhelmingly rejected a key tenet of a $918 million aid deal with the
International Monetary Fund (IMF), breaching the terms of a 3-year programme
meant to fix an economy dogged by high public debt, reports CNBC.
The MPs passed the Bank of
Ghana (BoG) Amendment Bill to allow central bank financing of the government's
budget deficit up to a ceiling of 5 percent of the previous year's total
revenue instead of the zero financing demanded by the IMF.
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