The International Monetary Fund (IMF) has described its second round of negotiation with Ghana for a loan support facility for the country’s homegrown economic programme as constructive.
The Fund, however, said, the team would advance its technical work including further progress on assessing Ghana’s debt sustainability in the weeks ahead, including discussions at its Annual Meetings in Washington D.C.
Mr Stéphane Roudet, the IMF Mission Chief to Ghana, at the end of the meeting on Friday, said: “We had constructive discussions on policies aimed at restoring macroeconomic stability and laying the foundation for stronger and more inclusive growth.”
“We reaffirm our commitment to support Ghana in these challenging times, consistent with the IMF’s policies”.
He expressed the IMF team’s gratitude to the Ghanaian authorities, private sector, civil society, development partners and other stakeholders for their constructive engagement and support during this mission.”
The second in a series of negotiations dealt with issues including ensuring public finance sustainability while protecting the vulnerable, bolstering the credibility of monetary and exchange rate policies to reduce inflation and rebuild external buffers.
The discussions also touched on preserving Ghana’s financial sector stability, and steps to encourage private investment and growth, including by improving governance, transparency, and public sector efficiency.
The IMF team was in Ghana from September 26 to October 7 and discussed policies that could be supported by an IMF arrangement to help the country navigate through the current economic hardship and improve its fiscal balances sustainably.
They met with President Nana Addo Dankwa Akufo-Addo, and his Vice, Dr Mahamudu Bawumia, as well as the Finance Minister Ofori-Atta, and Bank of Ghana Governor, Dr Ernest Addison and their respective teams.
The IMF team also met with the Parliament’s Finance Committee, and representatives from various government agencies, the Trades Union Congress, the private sector, civil society organizations, and development partners.
- Mohammed Kudus not eligible to play at 2023 U-23 AFCON
- Fuel prices to fall between 2% and 9% from April 1
- MP dies after hit-and-run motorcycle crash
- Social media reacts to Bagbin’s rant on Kamala Harris and Akufo-Addo’s LGBTQ+ comments
- Ernest Kobeah pulls out of NDC flagbearership race
- Parliament decriminalises attempted suicide
- Ghanaian achieves outstanding results in global Finance and Accounting exam
- Take care of yourself, you would be replaced when you die – Speaker to MPs
- #NanaAt79 trends as Ghanaians celebrate Akufo-Addo on his birthday
- IMF reluctant to approve bailout because of huge budget deficit – Prof. Bokpin
- Anti-LGBT: The President must go for what the people want – Most Rev. Gyamfi
- Leila Djansi’s mentee in UNESCO/Netflix project releases movie
- Nana Ansah Kwao IV apologises to Ghanaian youth
- Kelvyn Boy endorses Joy Prime’s Cues & Lyrics music reality show
- Playback: PM Express discuss whether US is interfering in the passage of anti-LGBTQI bill
- No individual can take credit for NPP government projects – Kpando MCE
- Akan chiefs wield authority, not power – Ansah Kwao IV
- My lost hand became my motivation – First youngest Ghanaian Pure Math Professor
- And LPG flames its furnaces; the most potent third force?
- Education Ministry assures to fix all SHS infrastructural challenges
- I’ll be retiring from stand-up comedy in 5 years – Basketmouth
- Criminalising attempted suicide does more harm to society than good – Bernard Ahiafor
- Here is why Ghana’s plan to push ‘pedal power’ appears doomed to failure
- Ghanaian youth entering into entrepreneurial roles commendable – CARDIFF ANALYTICA CEO
- MTN Ghana cut digital sod for ICT hub construction