According to a tweet from the IMF, “The IMF stands ready to support Ghana in restoring macroeconomics stability, safeguarding debt sustainability, and prompting inclusive and sustainable growth”.
Ghanaian officials have contacted the Fund to request assistance with the country’s own economic plan, which we can confirm. The representative of the county added.
As a result of the country’s economic difficulties, the government plans to begin discussions with the International Monetary Fund (IMF) about a bailout.
The Information Ministry published a statement on Friday, July 1, 2022, announcing this.
the IMF has been invited to support the Ghanaian government’s economic policy after being authorized to do so by President Nanaddo Dankwa Akufo-Addo, Finance Minister Ken Ofori-Atta has begun formal negotiations with the IMF.
President Akufo-phone Addo’s discussion with IMF Managing Director Kristalina Georgievs “conveyed the Ghana’s decision to engage with the Fund,” according to a statement.
Due to the NPP government’s stance on similar IMF bailouts during the previous Mahama administration, this has surprised many.
This isn’t the first time that the administration has hinted that it might need an IMF bailout because of economic mismanagement; it’s just the second time that it has done so.
It is, however, contrary to the position of Finance Minister Hon. Ken Ofori-Atta a few weeks ago.
The Finance Minister refuted claims that the administration was looking to return to the International Monetary Fund (IMF) for program support and bailouts.
Content created and supplied by: Devarsh_Arena (via Opera
News )