Ghana’s talks with IMF for economic recovery nearing completion – Nana Addo

President Nana Addo Dankwa Akufo-Addo has said Ghana’s negotiation with the International Monetary Fund (IMF) is nearing completion.

The President says this will have a major impact on the Ghanaian economy.

Speaking at a stakeholder engagement on moves to revive the economy, Nana Akufo-Addo said he will need the support of all.

“We are talking and, hopefully, concluding soon. These important negotiations that we are going to have will have a positive impact on the Ghanaian economy in the months immediately ahead”, he said.

Meanwhile, the President will later today, Wednesday, October 26, 2022, meet the leadership of the Trade Union Congress (TUC) and the Association of Market Women at the Jubilee House.

Ghana returned to the IMF for a US$ 3 billion bailout after months of struggle with the economy and a cost of living crisis.

The Ministry of Finance has said, government and the 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 2022.

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.

Under-pressure Finance Minister, Ken Ofori-Atta said government will fast-track negotiations with the IMF to ensure key aspects of the programme are reflected in the 2023 budget statement.

But, some economists have cast doubt on the possibility of concluding the IMF deal before the year ends.