IMF team arrives in Ghana today, bailout talks begins Wednesday
A delegation from the International Monetary Fund (IMF) is expected to arrive in the country today, Tuesday, 5 July 2022.
The delegation will have an in-person meetings with government representatives for an economic bailout on Wednesday, 6 July 2022.
This was contained in a statement issued by the Finance Ministry.
President Akufo-Addo recently directed Finance Minister Ken Ofori-Atta to begin talks with the IMF for a bailout.
A statement issued by Information Minister Kojo Oppong Nkrumah on Friday, 1 July 2022, said: “The President of the Republic, Nana Addo Dankwa Akufo-Addo, has authorised Finance Minister Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic program put together by the Government of Ghana.”
“This follows a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgievs, conveying Ghana’s decision to engage with the Fund,” the statement said.
“The engagement with the IMF will seek to provide a balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the Covid-19 pandemic and, recently, the Russia Ukraine crises
The economy has been in rough waters for some time now.
Fuel prices keep rising, the cedi keeps depreciating, inflation keeps soaring, and the cost of goods and services and keep rising.
As of March 2022, Ghana’s total debt stock stood at GH¢391.9 billion.
Trending News
PNC's cracks deepen as 11 of 16 national executive members resign to form new party
13:50MoH receives first batch of donated medical supplies after a year-long port delay
02:51I’m ready to work with all for a landslide victory in 2024 – Farouk Mahama
07:18Jefferson Sackey advocates peace and tolerance at Eid-ul-Fitr celebration
02:04Bawumia team dismisses Global InfoAnalytics’ ‘Mahama’ll win’ survey as ‘scanty, not properly done’
06:49Man held for robbing late vice president's widow of ₵28,000, £50, and $2,200 at gunpoint
13:06Ejisu by-election: Former MP goes independent
20:27Fuel prices up: Petrol, diesel sell at ₵14.99, ₵14.80 per litre
11:49Feeding grants'll be paid directly to school heads in my next gov’t – Mahama promises
11:02Francis-Xavier Sosu rallies support to aid Madina market fire victims
19:30