Discussions between the International Monetary Fund (IMF) and the government of Ghana for a Post-Covid Programme for the country are still ongoing.In its most recent update on the engagement, the Ministry of Finance revealed that both parties have agreed on a clear path toward the final details of the programme.

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According to a statement issued by the Ministry on October 21, 2022, this is with the “goal of reaching a Staff-Level Agreement by the end of the year.”Both parties managed to reach an agreement following a trip by a government delegation to Washington, D.C. on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund.A path to financial sustainability was also extensively discussed during engagements.

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The delegation also had a number of fruitful and energising interactions with the World Bank, bilateral partners, US government representatives, and external investors.“The Annual Meetings concluded successfully with a renewed sense of urgency for countries to rally together to bolster the global economy, in light of the dim outlook for advanced and frontier markets alike,” the Ministry wrote in its release.

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An IMF mission team is anticipated to arrive in Accra in the coming weeks, with a Staff-Level Agreement still in the works.A delegation from the Fund would be visiting for the third time to assess the nation’s economic situation and help resolve any problems.The government first engaged the IMF this year in July and then subsequently in September.

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The United Kingdom, Germany, and France, which are bilateral partners of Ghana, have pledged to support the country as it engages the International Monetary Fund.The government has thanked Ghanaians “for their forbearance in what is undoubtedly a troubling and challenging time for our economy and economies globally.

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”Government has pledged to continue working, with “a fierce sense of urgency, to stabilize the economy and place it back on a firm trajectory of growth.”Source: The Independent Ghana|

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