Audio By Carbonatix
International Monetary Fund (IMF) is warning of some challenging times for Ghana in terms of earnings from the export of commodities in the coming months.
This was contained in the Fund's Report on Economic Outlook for the region launched in Accra on Wednesday.
The Fund is basing its prediction on the expected drop in commodity prices as a result of the Eurozone crisis.
The crisis has made it difficult or impossible for some countries in the euro area to repay or re-finance their government debt without the assistance of third parties.
The situation would affect demands for commodities from Ghana and other African countries by some European countries, the IMF says.
Antoinette Sayeh, Director of IMF Africa Department, is therefore advising Ghana to replenish its buffers to enable the country deal with the shocks that will come along the way.
She said although Ghana is developing well, it still has fiscal challenges due to its 2012 fiscal deficits. She therefore urged government to work hard to reduce its financial deficits.
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