Ghana, IMF to seal bailout deal in March – Mahama

General News of Tuesday, 3 February 2015

Source: Starrfmonline.com

John Mahama Prez

President John Mahama is highly confident Ghana will seal a financial assistance deal with the International Monetary Fund (IMF) by the end of March.

Ghana is currently before the Bretton Woods institution for a financial bailout to stabilise a staggering economy as well as boost domestic reform.

President Mahama is optimistic the process which began last year will yield dividends by the close of next month.

“Ghana is committed to securing an IMF programme and we are confident that we will reach agreement with the IMF by the end of this quarter,” Mahama told Reuters.

Ghana is currently reeling under a litany of economic hardships.

The local currency, the Ghana Cedi, has plunged by about 40 percent in value against the US dollar and other major currencies.

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