Ghana To Meet IMF Staff-Level Requirements By Tuesday

by Isaac Mintah
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The Government of Ghana is expected to reach a staff-level agreement with the International Monetary Fund by Tuesday, December 13, 2022.

Reuters said, although the IMF has not responded for comment, three sources with knowledge of the ongoing talks have confirmed.

It hints a Staff-Level agreement will pave way for the Board of the Fund to negotiate and probably approve of a programme for the Ghana.

It must be acknowledged in recent times, the cedi has improved in value against the US dollar, which signals that a deal between Ghana and the Fund could be reached soon.

Government of Ghana has started restructuring the country’s debt from December 5, 2022, a major step in reaching a deal with the IMF to start a significant programme.

A source according to Reuters said the major hurdles in the negotiations were overcome this week which sped up the process.

IMF In Ghana…

A visiting IMF team led by Stéphane Roudet, Mission Chief for Ghana, have been in the country since December 1, 2022, to continue discussions with the authorities on the country’s post-COVID-19 program for economic growth and associated policies and reforms that could be supported by a new IMF lending arrangement.

Finance Minister, Ken Ofori-Atta, on Monday December 5, 2022, expressed confidence government would reach a Staff-Level Agreement with the International Monetary Fund soon for a programme aimed at restoring macroeconomic stability and protecting the most vulnerable.

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