Ghana heads to IMF for economic bailout

The government of Ghana heads to International Monetary Fund (IMP) for economic bailout.

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has authorized Finance Minister Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic program put together by the Government of Ghana.

This follows a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund.

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The Informed Ministry said, after meeting on June 30th, 2022, cabinet indicated its support for the decision.

In a statement issued by the Information Minister Kojo Oppong Nkkumah (MP), the engagement with the IMF will seek to provide balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the Covid-19 pandemic and, recently, the Russia-Ukraine crises.

SOURCE: Coverghana.com.gh

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