The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has sent an important message to Ghanaians.
A tweet from the IMF Director reads;
“Constructive meeting w/ Finance Minister Ofori-Atta & his team on Ghana’s economic challenges and the way forward.
We are ready to do our part to help the authorities stabilize the economy, lay the ground for stronger growth & help the most vulnerable.”
According to the message, IMF is set to meet Ken Ofori-Atta and Ghana’s economic team on the IMF bailout.
Background
On 1st July, 2022, the President of the Republic of Ghana, His Excellency Nana Addo Dankwa Akufo-Addo, gave a directive to the Ministry of Finance, to commence an engagement with the International Monetary Fund (IMF or the Fund) to support Ghana’s economic program.
This decision was taken amidst economic crisis which the country is going through. The engagement with IMF begun on Tuesday, 22nd July 2022. A major reason for seeking IMF bailout is said to be the effects of COVID-19 and the Russian -Ukraine war.
Other Ghanaians believe that it is mismanagement of the economy by the government that is why Ghana is now seeking a bailout from IMF.
The notice by the IMF Kristalina Georgieva was shared on Gabby Otchere-Darko’s official Facebook page. It is believe that, IMF may announce the specific conditionalities for the loan, Ghana is seeking in a short period of time.
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