Economist Professor Peter Quartey is optimistic Ghana will secure a deal with bilateral creditors before the end of next month.

The International Monetary Fund (IMF) has scheduled January 11, 2024, as the proposed board meeting date for cash disbursement, subject to the country reaching a deal with its bilateral creditors.

Professor Quartey who also doubles as the Director of the Institute of Statistical, Social and Economic Research said Ghana getting a deal will help sustain the recent gains by the cedi.

“For us to get the second tranche [funds], it is dependent on us getting into an agreement with external creditors”.

“If that happens, then certainly we are likely to see some stability in the exchange rate market and that drives inflation and a lot of activities on the business front. So if the exchange rate is relatively stable, we are likely to see some gains.”

He added “Of course the new taxes as we mentioned, depend on when it becomes operational. I heard GRA [Ghana Revenue Authority] says it is now setting up the system so it might not kick off in January [2024]. But as soon as it kicks in, we’ll find costs going up".

However, Professor Quartey said if the exchange rate remains stable, there would be a marginal increase or stable prices, moderating inflation going forward.