Financial bailout: IMF team arrives in Ghana today, December 1

Some staff of International Monetary Fund (IMF) will be in Ghana on December 1, 2022 to engage the Government of Ghana on its economic bailout programme.

The IMF team that will be in Ghana from December 1 to 13, 2022 will be led by their Mission Chief for Ghana at the International Monetary Fund (IMF), Stéphane Roudet.

Ahead of their visit to Ghana, Mr Roudet noted that the Bretton Woods institution has in the past months had productive discussions with the Government of Ghana and was looking for a more progressive one towards the reaching of an agreement on policies and reforms tabled before the IMF.

He stressed that the IMF remains committed to help Ghana restore its macroeconomic stability for Ghanaians to heave a sigh of relief.

“We have had productive discussions with the Ghanaian authorities over the last few months and look forward to our engagement in Accra…our objective for this visit is to make further progress toward reaching agreement on policies and reforms that could be supported by an IMF lending arrangement,” he said.

“The IMF remains fully committed to help Ghana restore macroeconomic stability, bring relief to Ghanaians in this time of crisis, and lay the foundation for more inclusive growth,” he added.

Ghana is targeting an amount of $3 billion over a three-year period from the IMF once an agreement on a programme is reached.

The new amount requested as a loan is double the government’s initial target of $1.5 billion.

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The possible IMF programme for Ghana is aimed at restoring macroeconomic stability and safeguarding debt sustainability among many others.