Business News of Thursday, 15 April 2021Source: www.ghanaweb.comFormer Finance Minister of Ghana Seth Terpker has stated that the country cannot be classified as a low-income country because, the indicators being used to measure the economic growth of developing countries, by the International Monetary Fund (IMF) differ. He said the country isn’t behaving as a lower-middle-income country hence, the reason it has been downgraded to a low-income developing country. In an interview with GhanaWeb’s Amos Ekow Coffie, Mr Terpker said statistics are proving that the country’s Gross Domestic Products (GDP) is growing and this is proof that the country cannot be classified as a low-income country. Meanwhile, the Ministry of Finance has clarified that the classification of Ghana as a low-income developing country in the International Monetary Fund’s (IMF) April 2021 Fiscal Monitoring document is not a downgrade. But the Ministry says “Ghana’s classification in the recent IMF Fiscal Monitor did not change” hence cannot be declared as a downgrade.

Source: GhanaWeb April 15, 2021 16:07 UTC