Ken Ofori-Atta speaking with the media
Finance Minister, Ken Ofori-Atta, has indicated the government’s confidence in securing the second tranche of the $600 million International Monetary Fund (IMF) loan when the Staff visits Ghana in September 2023.
Speaking at the Ghana Trade Fair Redevelopment Project Investor Conference in Accra, Mr. Ofori-Atta hinted that the country is getting back some confidence in the economy after many efforts in meeting the IMF conditionalities.
This, he believes will make the way for the next disbursement of $600 million dollars.
“We had an IMF Staff visit about three weeks ago which went very well and we’re expecting that review in September [2023],” he indicated.
“Between cabinet and parliament, so far we’ve gone through the qualitative performance criteria. So we expect that the review will go well in September [2023] to get a Staff-Level Agreement. We will go to the Board in November [2023] and we’re sure we can get it”, he explained.
He also expressed optimism that the country will recover swiftly, adding “God always put the country through and with the help of all, speaking the same language, managing our investors and bondholders well, we will get there”.
Meanwhile, the Finance Minister has described as a difficult period, getting individual bondholders to suspend their intended picketing at the Finance Ministry.
He, therefore, called for some sacrifice from the private sector since the country is now getting out of its challenges.
“I think the technical people are meeting and the Lord has been faithful so far. But I also think we as Ghanaians must appreciate that these are not normal times and with where we were last year and now, clearly, we should have some excitement for the future”.
By Jamila Akweley Okertchiri