International Monetary Fund (IMF) staff will present Ghana’s request for a loan programme to its executive board by the end of the month, President Nana Akufo-Addo has disclosed.
“We are on course for the IMF staff to present to the IMF executive board Ghana’s programme request for a 3 billion dollar extended credit facility by the end of the month,” he said on Wednesday while presenting the State Of the Nation Address (SONA) to Parliament.
Ghana struggling with its worst economic crisis in a generation secured a staff-level agreement with the IMF in December for a $3 billion loan, but approval is contingent on it restructuring its debt of GH¢575.7 billion ($47.6 billion).
The country is one of several cash-strapped countries that are facing unprecedented delays to secure bailouts as China and Western economies clash over how to structure debt relief deals.
Source:Mybrytfmonline.com/Kwabena Nyarko Abronoma
