Finance Minister, Ken Ofori-Atta, has described initial negotiations with the International Monetary Fund (IMF) for a bailout programme as collaborative.
According to him, government is discussing debt restructuring plans with the Fund to improve the country’s credit rating.
An IMF team arrived in Ghana in the in the last week of September 2022, to commence official discussions with government for a programme.
Speaking at the signing of a $1.13 billion cocoa syndicated loan in Accra, Mr. Ofori-Atta announced that a government team will meet the IMF in Washington, DC in the U.S.A in the coming weekend to continue the negotiations.
He expressed optimism that government will sign a programme that will help stabilise the economy and improve the country’s of balance of payment.
“We are very confident that the discussions that we are having with the Fund will put us in the right landing zone,” he said, adding that “the ministry (Finance) will go to Washington DC at the end of the week to continue with this discussions”.
Describing earlier engagements as cordial, Mr. Ofori-Atta said government is “getting to a point of understanding the debt sustainability numbers with the IMF”.
“I believe this programme will become a historic resolution as demonstration to other countries on the continent”.
Mr. Ofori-Atta reiterated that the ultimate aim of government in the negotiations is to protect Ghanaians from the negative impact of recent global challenges such as the Covid-19 pandemic, and the Russia invasion of Ukraine.
- T-bills, individual bond holders exempted from Domestic Debt Exchange – Ofori-Atta
- We’ll not accept Ofori-Atta’s debt restructuring – Minority
- Bright Simons: Ghana begins its dance with creditors
- Debt Exchange Programme is key requirement for IMF deal – Ofori-Atta
- Playback: Ofori-Atta launches Domestic Debt Exchange amid financial crisis
- Residents of Agbeve unhappy with dredging activities on Volta River by foreign vessel
- Proposed debt exchange programme will bring some confidence into economy – Dr. Addison
- How individual mistakes cost Black Stars a round of 16 World Cup slot
- There was no approach from Ghana to play for Black Stars – Danny Welbeck
- Increment in VAT is inappropriate at this time – Ghana Chamber of Commerce CEO
- NGO wants government to reduce prices of goods to encourage charity work
- Adding value to agric will create more jobs for youth – Obuasi MCE
- Our aides are not our spokespersons – Visually impaired tells public
- ‘Gobɛ’ is not food for the poor; it’s expensive these days’ – Fameye
- Facial recognition metric app saved NSS GH₵112m – Executive Director
- SOS Children’s Villages holds STEM exhibition fair for schools in Juaben
- Take up farming seriously instead of leaving it to the aged – Paramount Chief urges youth
- Mandela Washington Fellows tackle Climate Change through Sustainable Agricultural Practices
- Rotary Club of Ho donates ICT lab to deprived Dodome Avexa Basic School
- 5th Colloquium of International Geoscience Programme underway at University of Ghana
- Journalists urged to change societal perception about persons with disabilities
- Labour unions kick against any ‘haircut’ on pension funds of workers
- Parliament does not have the guts to sack any Minister – ACEPA’s Rasheed Draman
- IHME Scientists advocate for research funding to combat bacterial pathogens deaths in Ghana
- Winner of Joy FM Family Pop Quiz Mini-Series jets off to Singapore