The team from the International Monetary Fund (IMF) arrived in Ghana Tuesday, July 5, 2022, to begin a discussion with the government of Ghana on a bail-out request made to the fund.
Negotiations are expected to begin this morning of Wednesday, July 6, 2022, in Accra.
President Nana Akufo-Addo on Friday, July 1, 2022, directed the Finance Minister, Ken Ofori-Atta, to commence engagements with the Bretton Woods institution to commence negotiation for an economic bail-out for Ghana’s precarious economic situation linked to the negative implication of COVID-19 and Russia invasion of Ukraine.
Minister for Finance, Ken Ofori-Atta will be leading the negotiations with the IMF.
“The Ministry further takes this opportunity to assure Ghanaians of the Government’s commitment to successfully negotiate a program with the IMF in the coming months, in support of Ghana’s economic recovery,” the statement issued by the Public Relations Unit of the Finance Ministry added.
However, according to a BBC report, Professor Steve Hanke, an international economist at John Hopkins University in the United States, believes Ghana’s current IMF program will fail due to the terrible economic situation the country finds itself in now.
Source: Mybrytnewsroom.com/Obed Ansah
