Wednesday, 30 November

Ghana starts IMF negotiations

Business
Ghana is seeking $3billion from the IMF

The ministry of finance and the Bank of Ghana have commenced discussions with the IMF for an IMF-supported programme.

A key pre-requisite for a programme is confirmation that Ghana’s debt is on a sustainable path and this will require a comprehensive Debt Sustainability Analysis (DSA), which is currently ongoing.  

A statement from the Finance Ministry said the Government is putting together a comprehensive post-Covid-19 economic programme which will form the basis for the IMF negotiations.

The programme seeks to establish a macro-fiscal path that ensures debt sustainability and macroeconomic stability underpinned by key structural reforms and social protection.

As government negotiations with respect to the IMF-supported programme commence this week, the MoF has expressed optimism about making progress in the discussions.

The government says it remains committed and shall continue to actively engage all stakeholders, both public and private, in a clear and transparent manner as it seeks to fast-track this process.

Ghana is seeking $3 billion from the IMF.

 

 

Source: Classfmonline.com/Emmanuel Mensah