Ghana has formally requested the International Monetary Fund to support its economic program.
It follows a telephone conversation between President Akufo-Addo and IMF Managing Director Kristalian Georgieva conveying Ghana’s decision to apply for the support fund.
A statement issued in Accra on Friday 1st July, 2022 and signed by Information Minister Kojo Oppong Nkrumah said, “the engagement with the IMF will seek to provide a balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the Covid-19 pandemic and recently, the Russia-Ukraine crises.”
Ghana is a member of the IMF and recently received 1 Billion dollars for its Covid-19 response program.
The government expects the IMF support to boost the funding sources needed to execute its economic program.
It is expected that capital markets and friendly sovereign countries may also contribute to the program.
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