IMF team to be back in Ghana soon for bailout discussion

IMF team to be back in Ghana soon for bailout discussion

As Ghana’s engagement with the International Monetary Fund in a bid to secure a bail-out for the economy continues, a team from the Britton Wood’s institution is headed back to  Ghana in the coming weeks.

After the government’s formal declaration of its intention to seek a bailout from the IMF in July, a staff mission from the IMF followed up to commence discussion for the bailout.

A total of  $3 billion package is what the government is targeting from the fund.

Meanwhile, Director of Communications of the IMF, Gerry Rice at a press briefing said “Ghana has, as you probably know, requested a program from the IMF. We had an IMF staff team in Accra in July [2022] to begin initial discussions with the Ghanaian authorities. And we characterized that mission as constructive, kickstarted the process, and laid the groundwork for engagement, which now continues”.

He further pointed out the Mission Chief came to Ghana to commence the talks and indicated that they are scheduled to come back again though a date was not provided.

Also, Managing Director of the IMF Kristalina Georgieva during her visit to Ghana expressed confidence that a deal between both parties would be reached by the end of the year.

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