Dr Ernest Addison
The Governor of the Bank of Ghana (BoG), Dr Ernest Addison has expressed confidence in Ghana securing $3 billion in the ongoing negotiations with the International Monetary Fund (IMF).
According to him, the fund is likely coming over a 3-year period after the negotiations.
Dr. Addison made this known when responding to questions at the Monetary Policy Committee (MPC) press conference in Accra on Monday, November 28, 2022 .
He announced that the policy rate has been increased to 27 percent, saying that inflation has remained elevated.
The boss of the central bank attributed this to food pricing pressure and also the decline in the Cedi strength.
On the banking industry, he said the sector remained profitable.
Ghana is currently seeking a programme with the Fund following directive by President Nana Addo Dankwa Akufo-Addo to the outgoing Finance Minister, Ken Ofori-Atta to open negotiation with the Fund.
Finance Minister Ken Ofori-Atta have indicated that the negotiations are going smoothly.
By Vincent Kubi