IMF money to hit government accounts soon
Ghana will soon receive the funds from the International Monetary Fund and it is expected to hit the government’s accounts by the fourth quarter of this year, Mr Palgrave Boakye the government spokesperson on Governance and Security has revealed.
This follows an assurance made by IMF’s managing director Kristalina Georgieva to help Ghana stabilize its economy after she met Ghana’s Finance Minister Ken Ofori-Atta last week in Washington.
“We are ready to do our part to help the authorities stabilize the economy, lay the ground for stronger growth & help the most vulnerable.”
Mr Palgrave Boakye-Danquah during an interview on TV3 revealed this pointing out that the aid could hit our accounts in the third quarter.
Acclaimed credit agency Fitch also predicted that Ghana could receive an estimated $3 billion from the IMF soon.
Ghana’s leaders had to rescind their decision not to seek support from the Britton Woods institution to salvage the economy by finally approaching them.
This deal will be dependent on how Ghana can come up with a credible fiscal plan to increase government revenue and debt affordability.
Ghana was unfortunately found to be at high risk of debt distress and shocks from market access due to high debt servicing costs according to the recent IMF debt sustainability analysis
