Staff-level agreement to be reached on IMF negotiations by end of year – Finance Ministry

The Ministry of Finance says government and the International Monetary Fund (IMF) have reached a clear path towards the final details of a programme with the goal of reaching a Staff-Level Agreement by the end of the year.

This follows meetings between the Government and the IMF advancing negotiations towards a Fund-supported Programme in Washington (D.C) on the sidelines of the annual meetings of the World Bank and the International Monetary Fund.

The Finance Ministry in a statement indicated that “a pathway towards fiscal sustainability has also been extensively discussed, and the Government of Ghana and the IMF remain fully committed to the goal of reaching a Staff-Level Agreement on a Programme within the shortest possible time.”

The Ministry further indicated in pursuance of the Staff-Level Agreement, negotiations with the IMF will continue in Accra, as the IMF team is expected within the next few weeks.

Government further has expressed its gratitude to the IMF, the World Bank, bilateral partners and external investors for their continuous support even as the country goes through a tough time.

”The Ministry of Finance and the Bank of Ghana thank the people of Ghana for their forbearance in what is undoubtedly a troubling and challenging time for our economy and economies globally. Government will continue to work with a fierce sense of urgency, to stabilize the economy and place it back on a firm trajectory of growth.”

The Ministry said it will ”continue to provide regular updates and further details of our economic Programme to the public, immediately they become available. These updates
will be posted on the Ministry’s website, under a section titled IMF Programme Updates.”