IMF program comes with financial assistance – Mona Quartey

The country’s program with the International Monetary Fund would come with some financial assistance. That’s the assurance coming from the Deputy Minister of Finance Mona Quartey.

Government is set to open talks with officials of the Fund today on how they can help stabilize the economy and Ghana cedi. 

Madam Quartey tells Joy Business the IMF team would first start with reviewing the data they requested last week.

“The programme will surely help us in terms of our balance of payment deficit and it surely will surely help us in terms of fiscal discipline so that we can get back on track in terms of achieving some of the ratios.”

The IMF team, expected to touch down today, would be led by the mission Chief for Ghana, Joel Toujas-Bernate are, while Chairman of the National Development Planning Commission, Prof Kwesi Botchwey lead the Ghana team.

According sources close to the negotiations, the first phase of discussions with government in Ghana should be concluded by the 26 th of September.

According to financial services giant, Morgan Stanley, there are indications that government would be looking at a 2 to 3-year program, but IMF wants Ghana to opt for a 3 to 5-year program.

Morgan Stanley also maintains that Ghana could secure about 1.5 billion dollar support from the IMF.

Meanwhile, the Finance Ministry would next week begin series of activities aimed at helping the general public appreciate financial issues and products.

Mona Quartey says the ministry sees this financial literacy week campaign as part of strategies to help Ghanaians also appreciate government’s policies. Listen to Mona Quartey

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