{"id":1139269,"date":"2022-07-01T12:19:08","date_gmt":"2022-07-01T12:19:08","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/07\/01\/govt-announces-talks-with-imf\/"},"modified":"2022-07-01T12:19:08","modified_gmt":"2022-07-01T12:19:08","slug":"govt-announces-talks-with-imf","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/07\/01\/govt-announces-talks-with-imf\/","title":{"rendered":"Gov’t announces talks with IMF"},"content":{"rendered":"

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\n Accra, July 01, GNA- The Government is set to initiate talks with the International Monetary Fund (IMF) for a bailout following severe challenges to Ghana\u2019s economy.<\/p>\n
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A statement signed by Mr Kojo Oppong Nkrumah, the Information Minister, and copied to the Ghana News Agency in Accra on Friday, said: “The President of the Republic, Nana Addo Dankwa Akufo-Addo, has authorized Finance Minister Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic program put together by the Government of Ghana.<\/div>\n
“This follows a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgievs, conveying Ghana\u2019s decision to engage with the Fund,\u201d the statement noted.<\/div>\n
According to the statement, the decision was taken at a meeting on June 30, 2022.<\/div>\n
It said: \u201cThe engagement with the IMF will seek to provide a balance of payment support as part of a broader effort to quicken Ghana\u2019s build back in the face of challenges induced by the Covid-19 pandemic and, recently, the Russia Ukraine crises.\u201d<\/div>\n
Ghana\u2019s economy is currently in an alarming crisis with worsening public debt, rising inflation, fuel prices, and cedi depreciation, among others.<\/div>\n
Recent data released by the Bank of Ghana put Ghana\u2019s total public debt stock, as of March 2022, at US$ 55.1 billion (GH\u00a2391.9 billion).<\/div>\n
In dollar terms, the debt dropped by over $3 billion in the first 3 months of the year, from $58.4 billion in January to $55.1 billion in March.<\/div>\n
Several undertakings by the Government, including the introduction of the Electronic Transfer Levy (E-levy) to shore up enough revenue to save the worsening economic conditions had not yielded any positive results.<\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Accra, July 01, GNA- The Government is set to initiate talks with the International Monetary Fund (IMF) for a bailout following severe challenges to Ghana\u2019s economy. A statement signed by Mr Kojo Oppong Nkrumah, the Information Minister, and copied to the Ghana News Agency in Accra on Friday, said: “The President of the Republic, Nana […]<\/p>\n","protected":false},"author":1,"featured_media":1139271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1082,225,3074,3016],"class_list":["post-1139269","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-announces","tag-govt","tag-imf","tag-talks"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1139269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1139269"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1139269\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1139269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1139269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1139269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}