IMF team arrives in Accra today; negotiations begin

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Mission Chief, Stéphane Roudet will arrive in Accra today leading a team from the International Monetary Fund (IMF) to continue the next round of engagements with government for an enhanced domestic programme (EDP) for Ghana.

The team will engage with the Finance Ministry on policies and reforms that could be supported by an IMF lending arrangement.

The team is expected to further engage with other stakeholders including the Bank of Ghana, Parliament, business associations and civil society groups during the visit.

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The negotiations which commences Monday, September 26, between IMF, government and other stakeholders will end on October 7, 2022.

A  routine quarterly meeting held by the Bank of Ghana (BoG) scheduled for Monday, September 26, 2022, has been postponed following the discussions with the IMF staff.

The Bank of Ghana is rescheduling its 108th Monetary Policy Committee meeting to coincide with the end of the IMF mission to allow the decision on the policy rate to benefit from the broader discussions to be held during the period. A decision on the stance of monetary policy will be announced on 7 October 2022,” a statement from BoG explained.

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IMF boss, Kristalina Georgieva, earlier supported government’s stance that Ghana’s economy has been hurt by exogenous shocks such as COVID 19 ad the war in Ukraine.

She further declared that “we understand the urgency, and we will move as quickly as possible” to help Ghana.

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