The deal with the International Monetary Fund (IMF) will help the nation escape its crisis by restoring economic stability and combating inflation, according to finance minister Ken Ofori-Atta.
The Minister in question expressed his expectation that this would be Ghana’s final need for IMF assistance to reporters at a news conference with IMF officials on Tuesday, December 13.
“I can assure you that the government is committed to ending the economic crisis.
“I am hoping this will be the last time we go the fund,” the finance minister said.
He claimed that in recent months, the government has accomplished the practically unthinkable in order to assess the economy.
“We are optimistic the 2023 budget strikes the right balance.
“IMF program will restore economic stability and tackle inflation,” he added.
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The IMF Deal
The International Monetary Fund announced that it has struck a staff-level deal with the government of Ghana in a statement early in the morning.
A three-year initiative, the deal is supported by an arrangement under the Extended Credit Facility (ECF) for SDR 2.242 billion, or almost $3 billion.
The government of West Africa wants to return to a stable economy with controllable debt as part of the economic program.
The staff-level agreement will eventually be approved by the IMF Management and Executive Board, as well as Ghana’s partners and creditors providing the required finance guarantees.
Conclusion
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