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.
There is a good reason why you should support the African Editors. Not everyone can afford to pay for news right now. That is why we keep our journalism open for everyone to read, including in Ghana. If this is you, please continue to read for free. But if you are able to, then there are three good reasons to support us today.
1. Our quality, journalism is a scrutinising force at a time when the rich and powerful are getting away with more and more.
2. We are independent and have no billionaire owner pulling the strings, so your money directly powers our reporting.
3. It doesn’t cost much, and takes less time than it took to read this message.
Help power the African Editors' journalism for the years to come, whether with a small sum or a larger one. If you can, please support us on a monthly basis from just 1 Ghana Cedi through mobile money number: 0599896099/ +23359989609 and you can be rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.