Managing Director of the International Monetary Fund (IMF), Christine Lagarde, says a Fund programme will stabilise Ghana's troubled economy.

"Ghana is facing a challenging situation and we are going to continue the [bailout] discussions with the Ghanaian authorities to see what will -- on the fiscal and monetary point of view -- be the best policy mix option for the country", she told Joy Business' George Wiafe in Washington DC.

The IMF  is expected to open formal negotiations in Washington DC with the Ghana delegation from Tuesday November 14 to Friday November 17.  

Head of IMF's mission to Ghana, Joel Toujas- Bernate has already met with Ghana's former Finance Minister Professor Kwesi Botchwey who is lead negotiator for the Ghana team.

The two teams met in Ghana in September to begin preliminary discussions for a possible Fund programme.

Ghana's team also includes Finance Minister, Seth Terkper and Governor of the Bank of Ghana , Dr. Kofi  Wampah.

Already, news of the country turning to the Fund for a programme has contributed significantly to the cedi's appreciation against major foreign currency over the past weeks.

Ms. Lagarde at a news conference said the Ghanaian authorities must also do more to give real  meaning  to any programme that would be proposed for  the country by implementing recommendations.