The International Monetary Fund (IMF) and government have identified specific policies to help stabilise the Ghanaian economy from its current predicament.
In a statement, IMF said discussions between the two sides had made “good progress” and they are fully committed to reaching an agreement on a framework and policies for an IMF-supported programme as soon as feasible.
It said the discussions would continue in the weeks ahead, “with a follow-up mission to take place expeditiously.”
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This comes after an IMF team, led by Stéphane Roudet, met during 11-19 October in Washington DC with Finance Minister Ofori-Atta, Bank of Ghana Governor Addison to continue discussions on a possible IMF-supported programme.
The Government of Ghana is seeking $3 billion support from the IMF following a downturn in the Ghanaian economy.
Full statement below
"An IMF team, led by Stéphane Roudet, met during 11-19 October in Washington DC with Finance Minister Ofori-Atta, Bank of Ghana Governor Addison to continue discussions on a possible IMF-supported programme.
In a statement after the meeting Roudet said, “The Ghanaian delegation and IMF staff had very fruitful discussions on the authorities’ post-COVID programme for economic growth and associated policies and reforms that could be supported by a new IMF arrangement.”
“We made good progress in identifying specific policies that would restore macroeconomic stability and lay the foundation for stronger and more inclusive growth. The IMF team and the Ghanaian authorities remain fully committed to reaching agreement on a framework and policies for an IMF-supported program as soon as feasible. Discussions will continue in the weeks ahead, with a follow-up mission to take place expeditiously,” the statement added."