IMF hopes to conclude discussions with Ghana by Feb 26

Business News of Monday, 23 February 2015


Ghana IMF Talks

The IMF has confirmed that its visit to Ghana is the final round of negotiations for any bailout program to be sealed.

This should mean that if the team fails to reach any conclusions on the bailout talks it might be difficult for government to meet its target of having a program by April this year.

Answering a question posed by Joy Business at a Press Conference in Washington D.C. Communication Director, Gerry Rice says the fund is hopeful of closing a program with government while in Ghana.

He said, “The IMF team plans to be in Ghana from today, February 19 until the 26 with the objective of finalizing discussions with the authorities in several areas including the best policy response to the recent decline in oil prices and other issues related to the economy.

“We expect to be finalizing the details of the program at the end of this mission. And then, it will be proposed to the IMF’s board as expeditiously as possible. So the mission is 19 to 26 and then, we would hope to move to the board fairly soon after that.”

Gerry Rice said “I can furthermore say that we believe good progress has been achieved in recent weeks on the plan to clean up the payroll, finalize the remaining details of the government’s medium-term reforms, as well as firm up financing assurances for the possible program.”