Finance

IMF bailout: Ghana misses out again on board meetings for April 2023

This comes after the government missed an initial March 2023 deadline to present Ghana’s $3 billion bailout programme to the IMF board announced by President Nana Addo Dankwa Akufo-Addo and the Minister for Finance Ken Ofori-Atta.

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The schedule of meetings for the board, on the IMF website, shows that it will meet five countries including Moldova, Central African Republic, Nepal, Eswatini and Lao People’s Democratic Republic between April 26, 2023 and May 3, 2023.

The IMF, however, indicated that its schedule is subject to change and “the agenda for each meeting is typically finalized the day before the meeting”.

Ghana missing out on the IMF board’s meeting for April casts doubt as to whether Ghana will be getting the $3 billion bailout in mid-May as some proponents of the government have indicated.

This is because the IMF board might take weeks to approve Ghana’s bailout even if it receives the country’s programme in the first week of May 2023.

The Fund is expected to assess whether the country’s policies are consistent with debt sustainability when it receives the programme from the government of Ghana.

“This assessment is based on a Debt Sustainability Assessment (DSA) conducted jointly by the IMF and World Bank to determine whether the government is able to meet all its current and future payment obligations.

“It is a forward-looking exercise that needs to take into account the authorities’ policies. In the case of Ghana, the DSA document will be presented to the Board at the same time as the program request,” a statement on the IMF website read.

Meanwhile, the Minister for Finance, Ken Ofori-Atta has indicated that Ghana has met all the pre-conditions, hence government will get a programme with the IMF.

“What the IMF is looking forward to before it can go to its board for Ghana’s programme approval is the assurance from the Paris Club of Bilateral Creditors that that group is committed to extending the needed financing support,” Ofori-Atta said.

View the schedule of the IMF for the rest of April 2023 and the 1st Week in May below:

 

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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