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IMF bailout: Team to arrive in Accra Wednesday

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IMF bailout: Team to arrive in Accra Wednesday

Officials of the International Monetary Fund (IMF) will arrive in the country on Wednesday, July 6th to begin negotiations with the government on the bail-out the Akufo-Addo administration is seeking.

The team is expected to meet officials of the Finance Ministry, the Economic Management Team and the Presidency during their one-week stay.

Details of the bailout programme and its conditionalities will all be announced after the meeting.

The Ministry of Information on Friday, July 1, 2022, announced that President Nana Addo Dankwa Akufo-Addo had given approval for Ghana to begin engagements with the IMF for a bailout.

The ministry said the Minister for Finance, Ken Ofori-Atta will be leading the negotiations with the IMF in the coming days.

The news has been received with mixed feelings, as it comes as a major U-turn by the government after it vowed never to go under an IMF programme.

The IMF team will consist of senior officials from the Fund as well as local staff based here in Ghana.

Analysts suggest that it would take at least three months for a programme to be agreed upon between the parties.

Meanwhile, Deputy Ranking Member of Finance Committee of Parliament and Bolgatanga Central MP Hon. Issac Adongo has urged the book runners of the Ghanaian economy to engage renowned Economist Kwame Pianin to lead negotiation with IMF for bailout.

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