March 27, 2023
Finance Minister, Ken Ofori-Atta

Finance Minister, Ken Ofori-Atta

The Ministry of Finance and the Bank of Ghana have commenced discussions with the International Monetary Fund for an economic support programme.

In view of this, Finance Minister Ken Ofori-Atta has provided some updates on the ongoing negotiations which is expected to take place from September 26 to October 7, 2022.

Addressing journalists at a press briefing in Accra on September 28, Ken Ofori-Atta said a 5-member committee consisting of financial professionals will lead the extensive stakeholder engagement.

He indicated that discussions are advancing smoothly and will cover a period of 10 days. He further assured that the engagements will be done to protect Ghana’s financial sector.

Meanwhile, a key prerequisite for an IMF programme will require a comprehensive Debt Sustainability Analysis (DSA).

Government says it is putting together a comprehensive post-COVID-19 economic programme which will form the basis for the IMF negotiations.

The potential IMF programme seeks to establish a macro-fiscal path that ensures debt sustainability and macroeconomic stability underpinned by key structural reforms and social protection.

Read Ken Ofori-Atta’s full speech below:

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