The letter – signed by finance minister Kwabena Duffuor and Central Bank Governor Kwasi Amissh-Arthur – outlines a number of policies being undertaken by Ghana as part of its attempts to secure funding from the IMF. More than $600 million could be granted to the country from the IMF’s Extended Credit Facility Program for Ghana.
The corporate tax rate on miners was increased from 25% to 35% in this year’s budget.
Fears that the increased rate will deter investment in the sector have been cast aside by government claims that the measures are necessary to bring in extra revenue.
