Ghana is likely to end negotiations on bailout talks with the visiting IMF team to Ghana before Thursday, according to sources within Government.

Joy Business has picked up from the  government's team negotiating with the Bretton Woods lender that progress made so far with the country's quest for financial and technical assistance point to a successful deal before a February 26 deadline given by the IMF.

If this development is anything to go by then the country might be able to meet its April deadline for a Fund programme.

Government is also hoping to sign a Memorandum of Understanding (MoU) with the IMF by Friday after it seals negotiations with the Fund on Thursday to demonstrate a commitment to meeting targets set out by the Fund. 

The IMF team arrived in the country last Wednesday in what many described as an emergency visit to finalise negotiations on bailout talks.

The Mahama-led administration is banking its hopes on a 3-year IMF programme to ease the pressure on Ghana's economy and tackle short term challenges -- rocketing inflation, high cost of living, a rising public sector debt and a wobbling local currency.

The IMF team, led by Joël Toujas-Bernaté, has been focused on ensuring Ghana government takes concrete steps to clean up the payroll and reduce spending.

The four-member IMF technical assistance team are in Ghana to also help the Central Bank improve its monetary policy making process including governance and communication issues.

The team was at a press briefing last week when the Governor of Bank of Ghana Henry Kofi Wampah announced a 21% Policy Rate.