Ghana’s negotiations with the International Monetary Fund are said to be nearing the later stages, President Akufo-Addo has hinted. He said this would have a much-needed impact on the country’s economic situation.
President Akufo-Addo also called for the support of the citizenry while delivering his speech at the stakeholder engagement on how to salvage the economic situation.
“We are talking and, hopefully, concluding soon. These important negotiations that we are going to have will have a positive impact on the Ghanaian economy in the months immediately ahead,” he said.
Aside from the engagement, President Akufo-Addo is scheduled to meet executives of the Trade Union Congress and Association of Market women at the presidency today 26th October 2022.
A bailout is currently being sort after by Ghana following failed attempts to restore the ailing economy proved futile.
According to the Finance Ministry, the government and the IMF are on the verge of the final details of a programme with the aim of at least reaching a Staff-Level Agreement by the end of 2022.
This is after meetings between the Government and the Britton Woods institution, taking negotiations a step further towards a Fund-supported Programme in Washington (D.C) during the ongoing annual meetings of the World Bank and the International Monetary Fund.
Finance Minister Ken Ofori-Atta hinted that the government wants to speed up negotiations to ensure key aspects of the program are captured in the 2023 budget.
But some economists do not envisage that coming into fruition by the end of the year.