Ghana’s quest for approval of the International Monetary Fund (IMF) support program and the subsequent disbursement of the first tranche of the $3 billion Balance of Payment support has attracted attention from economists and financial experts.
The timeline for these processes has come under scrutiny, with some expressing doubts about the feasibility of meeting the proposed deadline.
The government has indicated that Ghana may receive board approval by Wednesday, May 17, 2023.
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However, there are dissenting voices among economists, who argue that the approval process typically involves various stages and may take longer than anticipated.
They point out that after receiving all relevant financing assurances, the IMF Board needs to review and approve the financing agreement, a process that can involve substantial documentation and internal deliberations.
One notable figure questioning the timeline is Dr. John Kwakye, the Director of Research at the Institute of Economic Affairs. Dr. Kwakye, drawing on his experience and familiarity with the IMF Board Meeting Schedule, has raised concerns about Ghana’s absence from the agenda for the upcoming weeks.
In a tweet, he called on policymakers to share the IMF Board Meeting Schedule if they possess it, implying that the proposed approval date may not align with the actual schedule. Norvan Report