Ghana's government will ask the International Monetary Fund to extend its support programme to December 2018 from April 2018 to boost efforts to stabilize the economy, senior government sources said on Monday.
An extension would reassure markets and also likely bring in additional IMF funds to a programme under which Ghana was initially set to receive $918 million over three years, the sources told Reuters.
The deal was agreed by the previous government to restore stability to an economy that slowed sharply in 2014 due to a fiscal crisis and lower global prices for Ghana's oil and gold exports.
Any request for extension would represent a change of course for the government of President Nana Akufo-Addo, which said after coming to power in January that it wanted the programme to end on time.
"The programme is going to be extended until December 2018," said a senior government source who declined to be identified.
His comment was echoed by other government sources.
The IMF said last week it had suggested to the government that it request an extension.
Latest Stories
-
Hunter Biden lashes out at George Clooney over father’s 2024 election exit
2 hours -
French cities impose curfews on children after drug violence
2 hours -
Hershey, Nestle, other cocoa companies defeat appeal of child slavery lawsuit
3 hours -
China finds cover-up in lead poisoning of 200 children
4 hours -
Prince George photo released for his 12th birthday
4 hours -
Philippines goods to face 19% tariff, Trump says
4 hours -
Indian vice president’s resignation sparks speculation
4 hours -
Irish government reveals how Apple tax windfall will be spent
4 hours -
Brazilian Supreme Court justice threatens to arrest Bolsonaro
5 hours -
Queen Elizabeth II’s fashion to feature in exhibition
5 hours -
North Macedonia backs Morocco’s autonomy plan as sole basis for resolving Sahara dispute
5 hours -
Coach Lars Björkegren “proud” of Black Queens after penalty defeat to Morocco
5 hours -
Hosts Morocco to take on Nigeria in African women’s final
5 hours -
We were the better team – Queens coach Bjorkegren reflects on WAFCON 2024 semi-final loss
5 hours -
Mali court rejects appeal to release four Barrick employees, judge says
5 hours