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IMF team expected in Ghana on Wednesday July 6

During their one-week visit, the team is anticipated to see representatives from the Finance Ministry, the Economic Management Team, and the Presidency.

Senior IMF staff members as well as local employees stationed in Ghana will make up the IMF team.

 

According to analysts, it would take at least three months for the parties to come to an agreement on a program.

 

After the meeting, specifics on the bailout package and its conditions will be released.

 

Concerns about what it would imply for public sector jobs and social programs have been raised in response to Ghana’s decision to choose an IMF plan.

 

Ken Ofori-Atta, the minister of finance, was given permission by President Akufo-Addo on July 1 to begin formal negotiations with the International Monetary Fund.

The president’s instruction to the Finance Minister, according to a statement signed by the Information Minister, Kojo Oppong Nkrumah, came after a phone conversation between President Akufo-Addo and the IMF managing director, Kristalina Georgieva, in which the president announced Ghana’s decision to work with the Fund.

In a larger attempt to hasten Ghana’s recovery from the COVID-19 epidemic and, more recently, the Russia-Ukraine crisis, the engagement with the IMF will strive to offer balance-of-payments support, according to the statement.

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