Source : Maxwell Ashiagbor , Washington
If the outcome of the meeting by Ghanaian delegation led by the Vice President Bawumia , to the International Monetary Fund , IMF, recently is anything to go by , then the citizens of Ghana should brace for rough times ahead . The IMF team was led by Stéphane Roudet. After prolonged discussions, the management of the IMF did not appear to commit further funds to ease the free fall of the cedi against the dollar . That left the high profile officials from Ghana heading back home with no loan guarantees to shore up the value of the cedi against the dollar and other major currencies . The global fund said both sides identified policies and reforms that could be supported by a new IMF arrangement in the near future. The statement ended with the following ”Discussions will continue in the weeks ahead, with a follow-up mission to take place expeditiously”
Please read the full statement of the IMF below :
Washington, DC: An International Monetary Fund (IMF) team, led by Stéphane Roudet, met during October 11-19 in Washington, DC with Finance Minister Ofori-Atta, Bank of Ghana Governor Addison and their teams, to continue discussions on a possible IMF-supported program.
At the conclusion of the meetings, Mr. Roudet issued the following statement:
“The Ghanaian delegation and IMF staff had very fruitful discussions on the authorities’ post-COVID program for economic growth and associated policies and reforms that could be supported by a new IMF arrangement.
“We made good progress in identifying specific policies that would restore macroeconomic stability and lay the foundation for stronger and more inclusive growth . The IMF team and the Ghanaian authorities remain fully committed to reaching agreement on a framework and policies for an IMF-supported program as soon as feasible. Discussions will continue in the weeks ahead, with a follow-up mission to take place expeditiously .”
Key links :
October 7, 2022, Statement: IMF Staff Concludes Visit to Ghana
Frequently Asked Questions on Ghana: https://IMF.org/Ghana/qandas
IMF Ghana webpage: https://IMF.org/Ghana
IMF Africa Twitter: https://twitter.com/IMFAfrica
