Ghana: IMF urges Ghana to safeguard macro-economic stabilty
04.06.2012
The International Monetary Fund (IMF) has advised Ghana to remove subsidies on energy and fuel, a move that is likely to be met with resistance as it will make the commodities more expensive. Ghana's neighbour, Nigeria at one point removed fuel subsidies but the move was met with fierce and sometimes violent resistance. The IMF advised that a public service audit and the scrapping of subsidies will generate monthly savings of about GH¢160 million, which are needed to protect more productive expenditure and allow for an expansion of well-targeted social programmes to help the most vulnerable groups to cope with the tighter cost of living.