But in a short e-mail from the Communications Department of IMF copied to citifmonline.com and signed by Ismaila Dieng, the IMF clarified that Sanjeev Gupta’s statement was rather their projected figure for 2015.
“The ... read full comment
But in a short e-mail from the Communications Department of IMF copied to citifmonline.com and signed by Ismaila Dieng, the IMF clarified that Sanjeev Gupta’s statement was rather their projected figure for 2015.
“The latest actual figure available to IMF staff for end-2013 is equivalent to 56 percent of GDP, consistent with the figures released by the Bank of Ghana.”
This is not the first time Ndc has done this. They did it the first time during Rawlings administration and Ghana paid $20 million penalty for cooking figures.
During Mills administration, Duffuor too presented cooked figures to get IMF loans.
Why did the IMF send a email to citifmonline.com instead of the usual press release? Did the citifmonline.com send email to IMF seeking clarification?
Second, we are in 2014 and the email is talking about the end of 2013 and what the projected debt percentage to gdp will be in 2015, what about projected figure at the end of 2014?
Has this government not signed any loan contract in 2014?
Just a week ago Ndc was still insisting its debt to gdp ratio was 55 percent when at the end of the year 2013 it was 56 percent and we know they have borrowed 1.7 billion dollars for cocoa purchase, another 1 billion dollars it received for selling bonds at the bonds market a month ago. Coupled with smaller loans, this useless administration has borrowed at least 3 billion dollars alone in 2014 before the year ends so we know they are in 65-70 percentile of the debt to gdp percentage.
The IMF just want a face saving for this administration and don't want to come out like it is helping Mahama and that is why it left itself a window of opportunity to wiggle its way outby not talking about the debt to ratio ppercentage in 2014.
For idiots like HONESTY and this Solia dunce, government releases its financial situation quarterly report and we all know they have the quarterly report for September so why are they still talking about the end of December 2013 when they at least have the end of June 2014 quarterly report?
Anyway if it is 56 percent at the end of 2013, why is Ndc saying it was 55 percent? A one percent figure might not seem a lot but it can translate into half a billion dollars in unreported loans.
gh 9 years ago
The brouhaha surrounding the NDC 'cooked' statistical figures of debt to GDP ratio to IMF to cloud the reality of the true state of the Ghanaian economy cannot be said to have been answered by a email sent citifmonline.com. ... read full comment
The brouhaha surrounding the NDC 'cooked' statistical figures of debt to GDP ratio to IMF to cloud the reality of the true state of the Ghanaian economy cannot be said to have been answered by a email sent citifmonline.com.
Why did the IMF send a email to citifmonline.com instead of the usual press release? Did the citifmonline.com send email to IMF seeking clarification? According to the said email, “The latest actual figure available to IMF staff for end-2013 is equivalent to 56 percent of GDP, consistent with the figures released by the Bank of Ghana.The IMF clarified that Sanjeev Gupta’s statement was rather their projected figure for 2015. ”
we are in 2014 and the email is talking about the end of 2013 and what the projected debt percentage to gdp will be in 2015, what about projected figure at the end of 2014?
Maybe this would not have created such a furor if Ndc has not done this before.This is not the first time Ndc has done this. They did it the first time during Rawlings administration in 2000 and Ghana paid $20 million penalty for Ndc cooking figures.
During Mills administration, Duffuor too presented cooked figures to get IMF loans.
Why did the IMF send a email to citifmonline.com instead of the usual press release? Did the citifmonline.com send email to IMF seeking clarification?
Second, we are in 2014 and the email is talking about the end of 2013 and what the projected debt percentage to gdp will be in 2015, what about projected figure at the end of 2014?
Has this government not signed any loan contract in 2014?
Just a week ago Ndc was still insisting its debt to gdp ratio was 55 percent when at the end of the year 2013 it was 56 percent and we know they have borrowed 1.7 billion dollars for cocoa purchase, another 1 billion dollars it received for selling bonds at the bonds market a month ago. Coupled with smaller loans, this useless administration has borrowed at least 3 billion dollars alone in 2014 before the year ends so we know they are in 65-70 percentile of the debt to gdp percentage.
The IMF just want a face saving for this administration and don't want to come out like it is helping Mahama and that is why it left itself a window of opportunity to wiggle its way outby not talking about the debt to ratio ppercentage in 2014.
For idiots like HONESTY and this Solia dunce, government releases its financial situation quarterly report and we all know they have the quarterly report for September so why are they still talking about the end of December 2013 when they at least have the end of June 2014 quarterly report?
Anyway if it is 56 percent at the end of 2013, why is Ndc saying it was 55 percent? A one percent figure might not seem a lot but it can translate into half a billion dollars in unreported loans.
But in a short e-mail from the Communications Department of IMF copied to citifmonline.com and signed by Ismaila Dieng, the IMF clarified that Sanjeev Gupta’s statement was rather their projected figure for 2015.
“The ...
read full comment
The brouhaha surrounding the NDC 'cooked' statistical figures of debt to GDP ratio to IMF to cloud the reality of the true state of the Ghanaian economy cannot be said to have been answered by a email sent citifmonline.com. ...
read full comment