A high-powered team from the International Monetary Fund (IMF) head office in Washington DC will be in Ghana on Tuesday to begin formal discussions for a new economic support programme for the country beginning Wednesday (July 6, 2022).
The government will on Wednesday officially start preliminary negotiations into Ghana’s quest to seek a bailout from the fund.
The team is expected to meet officials of the Ministry of Finance (MoF), the Economic Management Team and the Presidency during its one-week stay in Ghana.
It will consist of senior officials from the head office of the IMF in Washington, DC, United States as well as local staff based in Ghana, Graphic Online has gathered.
Last Thursday, June 30, 2022, Ghana indicated to the IMF its intention to seek Balance of Payment (BoP) support.
President Nana Addo Dankwa Akufo-Addo in a telephone conversation with the IMF Managing Director communicated Ghana’s decision to the fund.
The IMF Country Office confirmed receipt of the indication and pledged to support Ghana in its 17th programme with the fund.
The IMF works to achieve sustainable growth and prosperity for all of its 190 member countries.
It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being.
In April 2015, Ghana turned to the IMF for a US$918-million loan to support the then ailing currency and help to stabilise the economy.
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