The International Monetary Fund is set to deploy another mission to Ghana in the coming weeks as the country races against time to tie down a bailout program.
A staff mission visited Ghana for initial discussions after the Akufo-Addo administration announced its intentions to head back to the IMF for a bailout in July.
The Director of Communications for the International Monetary Fund Gerry Rice, at a media engagement, recently said:
“Ghana as you probably know, requested a program from the IMF. We had an IMF staff team in Accra in July [2022] to begin initial discussions with the Ghanaian authorities. And we characterized that mission as constructive, kickstarted the process, and laid the groundwork for engagement, which now continues.”
“Our Mission Chief for the IMF also recently visited Accra, again, to meet with key counterparts. And we’re hopeful of another visit in the coming weeks. I don’t have a date for you, but [it will surely be] in the coming weeks,” added.
The Managing Director of the IMF, Kristalina Georgieva earlier in the month noted that a deal between Ghana and the IMF should be reached and finalized before the end of the year.
Ghana is before the IMF to help the country navigate the economic crisis it finds itself in, which was heightened by the coronavirus pandemic and the ongoing conflict between Russia and Ukraine.
Ghana is seeking a $3 billion package from the fund.
