Ghana Gets $3bn IMF Bailout

Ken Ofori-Atta

Credible information coming in indicates that the International Monetary Fund (IMF) has granted Ghana the eagerly anticipated $3 billion financial assistance.

The IMF Executive Board has approved the country’s programme plan for the next three years, and the final signature is in progress.

More details of the arrangement are expected to be announced in a press statement scheduled to be released in a few hours.

The IMF has also organized a virtual press conference to brief journalists about the outcomes of the Executive Board meeting. Key participants, including Ghana’s Minister of Finance, Ken Ofori-Atta, Dr Ernest Addison, Governor of the Bank of Ghana, and Tatiana Mossot, Senior Communications Officer at the IMF, will participate in this conference to provide a deeper understanding of the IMF’s perspective on Ghana’s economic situation and the proposed assistance.

The briefing will be conducted via Zoom to enable stakeholders to engage with the panel of experts and ask questions.

Stephane Roudet, the IMF Mission Chief for Ghana, will provide expert analysis of Ghana’s economic performance, outlining conditions and policy measures associated with the Extended Credit Facility Arrangement.

Ghana’s finance minister and the Governor of the Bank of Ghana will likely share insights into the country’s economic challenges, reform efforts, and the potential impact of the Extended Credit Facility Arrangement on Ghana’s financial stability and its growth prospects.

By Vincent Kubi

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