IMF staff to visit Ghana to monitor Economic Recovery Programme

• Posted on June 7, 2023June 7, 2023
• by Nana Kwesi Coomson
• Comment

A mission staff from the International Monetary Fund (IMF) is scheduled to arrive in Ghana today, Wednesday, June 7, to assess the progress of Ghana’s Economic Recovery Programme.

This visit marks the first assessment by the IMF following the approval of Ghana’s $3 billion bailout on May 17.

As part of the approved arrangement, an initial disbursement of $600 million was made, and subsequent disbursements are expected to occur every six months based on program evaluations conducted by the IMF Executive Board.

During the one-week visit, key institutions such as the Bank of Ghana, the Finance Ministry, and other relevant stakeholders will engage in discussions regarding the way forward.

The purpose of these engagements is to evaluate the implementation of Ghana’s Economic Recovery Programme and determine the effectiveness of the measures taken to address the economic challenges.

The IMF plays a crucial role in supporting member countries facing economic difficulties by providing financial assistance, policy advice, and technical expertise.

The Economic Recovery Programme aims to strengthen Ghana’s economy, promote fiscal discipline, improve financial sector stability, and foster sustainable economic growth.

Ghana’s collaboration with the IMF reflects its commitment to implementing sound economic policies and reforms to address macroeconomic imbalances and promote long-term stability.

-Citi