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1st December 2022 9:38:39 AM
2 mins readBy: Chris Kodo
Next week, an IMF delegation is anticipated in the nation to resume discussions with the administration over terminating an economic support program.
The delegation will be there from December 1 to December 13, 2022, under the direction of Stéphane Roudet, IMF Mission Chief to Ghana.
The team will keep talking with the government about the nation's post-COVID economic growth plan and any related policies and reforms that might be backed by a new IMF funding arrangement, the fund said in a statement released on Wednesday.
"IMF staff will also further engage with other stakeholders during the visit," the fund.
Ghana requested a fund-assisted programmed in July after the cedi came under intense pressure and inflation soared to record highs.
As of October this year, inflation was reported at 40.4 per cent and the cedi had lost more that 54 epr cent of its value to the US dollar.
A debt restructuring exercise is currently ongoing to bring the debt to sustainable levels to allow for the fund-assisted programme.
Since the request about three IMF Missions have the country for discussions and similar meetings have been held in Washingtin D.C. in USA.
Ghana can get up to $3 billion in funding under a three-year programme.
Mr Roudet said in the statement that the IMF have had productive discussions with the Ghanaian authorities over the last few months and looked forward to the impending one in Accra.
“Our objective for this visit is to make further progress toward reaching agreement on policies and reforms that could be supported by an IMF lending arrangement.
“The IMF remains fully committed to help Ghana restore macroeconomic stability, bring relief to Ghanaians in this time of crisis, and lay the foundation for more inclusive growth,” he added.
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