The International Monetary fund(IMF) is set to deploy another mission to Ghana in the coming weeks, Gerry Rice, the Director of Communications for the IMF said at a media engagement.
“We had an IMF staff team in Accra in July 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 for another visit in the coming weeks, I don’t have a date for you, but in the coming weeks.”
Ghana’s economy races against time to tie down a bailout programme.
Ghana is in dire need of a $3 billion package from the fund to shore up its economy.
Meanwhile, former President John Dramani Mahama recently advised the IMF and other International diplomats to heed the facts and realities of the Ghanaian economy and stop the wrong diagnosis of Ghana’s economic problems.
In a reaction to the development, Rice maintained the position of the fund attributing the current economic challenge facing Ghana to external factors such as the Russia-Ukraine war and the COVID-19 pandemic.
“the war in Ukraine has triggered a global economic shock that’s hitting Ghana and, as I said, many other countries, and all at a time when, for many of these countries, their room for fiscal maneuver, if I could put it that way, is already extremely limited because they’ve used a lot of fiscal power already, firepower already in the pandemic. So, the shock coming from the war in Ukraine compounds other pressing policy challenges. And we’re very cognizant of that. And that’s why we are, as I described at the beginning, stepping up to help countries where we can, and that includes Ghana,” Gerry Rice said.
-By Starrfm|Ghana
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