IMF urges BoG to be focused

The International Monetary Fund is cautioning the Bank of Ghana against any reaction to the recent surge in inflation that may distract it from its own medium term goals.

Inflation went up marginally in January to 9.08 percent, bringing to an end an 18-month persistent drop.

It has been blamed on an increase in fuel prices at the beginning of the year.

According to the IMF, the rising price of crude on the global market is likely to have further ripple effect on the economy if not well managed.

Head of delegation, Peter Allum nonetheless believes the Central Bank needs to maintain its focus.

He said because the price increase was triggered by only fuel price increase, the effects on the wider economy will not be that damaging.

Source: Joy Business/Ghana