{"id":1211644,"date":"2022-09-27T09:35:44","date_gmt":"2022-09-27T09:35:44","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/09\/27\/imf-negotiations-begin-monday-3news-com\/"},"modified":"2022-09-27T09:35:44","modified_gmt":"2022-09-27T09:35:44","slug":"imf-negotiations-begin-monday-3news-com","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/09\/27\/imf-negotiations-begin-monday-3news-com\/","title":{"rendered":"IMF negotiations begin Monday | 3News.com"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"512\" height=\"341\"  alt=\"\" title=\"IMF Kristalina Akufo-Addo\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/09\/IMF-Kristalina-Akufo-Addo.jpg\" data- class=\"entry-thumb td-modal-image lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"512\" height=\"341\" class=\"entry-thumb td-modal-image\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/09\/IMF-Kristalina-Akufo-Addo.jpg\"   alt=\"\" title=\"IMF Kristalina Akufo-Addo\"\/><\/noscript><figcaption class=\"wp-caption-text\">IMF&#8217;s Managing Director Kristalina Georgieva met President Akufo-Addo in the Netherlands <\/figcaption><\/figure>\n<\/div>\n<p><strong>Negotiations for an enhanced domestic programme (EDP) for Ghana after the country applied for bailout from the International Monetary Fund (IMF) are scheduled to begin today, Monday, September 26.<\/strong><\/p>\n<p>The Mission from IMF led by St\u00e9phane Roudet arrived in Ghana over the weekend for the discussions to begin.<\/p>\n<p>Ghana\u2019s team will be led by Finance Minister Kenneth Nana Yaw Ofori-Atta.<\/p>\n<p>The IMF Mission will be in the country for the next two weeks with the discussions scheduled to end on Friday, October 7.<\/p>\n<p>The EDP Ghana is seeking is to restore macro-economic stability and debt sustainability.<\/p>\n<p>The IMF has assured that the $3-billion deal will be sealed by year-end.<\/p>\n<p>In a closed-door meeting with President Nana Addo Dankwa Akufo-Addo earlier this month, on the sidelines of the Africa Adaptation Summit in Rotterdam, Netherlands, IMF\u2019s Managing Director Kristalina Georgieva told him \u201cwe understand the urgency, and we will move as quickly as possible\u201d.<\/p>\n<p>\u201cWe have started very constructive discussions already and to the people of Ghana, like everybody on this planet, you have been hurt by exogenous shocks,\u201d she said.<\/p>\n<p>The Mission is expected to meet major stakeholders including officials from the Bank of Ghana, Finance Ministry, industry and others in the next two weeks.<\/p>\n<p>A team led by Carlo Sdralevich was in the country in July to engage this same stakeholders on the perfect deal for Ghana.<\/p>\n<p>The team concluded thus:<\/p>\n<p>\u201cGhana is facing a challenging economic and social situation amid an increasingly difficult global environment. The fiscal and debt situation has severely worsened following the COVID-19 pandemic. At the same time, investors\u2019 concerns have triggered credit rating downgrades, capital outflows, loss of external market access, and rising domestic borrowing costs.<\/p>\n<p>\u201cIn addition, the global economic shock caused by the war in Ukraine is hitting Ghana at a time when the country is still recovering from the Covid-19 pandemic shock and with limited room for maneuver. These adverse developments have contributed to slowing economic growth, accumulation of unpaid bills, a large exchange rate depreciation, and a surge in inflation.\u201d<\/p>\n<p><strong>By Emmanuel Kwame Amoh|3news.com|Ghana<\/strong><\/p>\n<p><a class=\"twitter-follow-button\" href=\"https:\/\/twitter.com\/kwame_amoh?ref_src=twsrc%5Etfw\" data-show-count=\"false\">Follow @kwame_amoh<\/a><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IMF&#8217;s Managing Director Kristalina Georgieva met President Akufo-Addo in the Netherlands Negotiations for an enhanced domestic programme (EDP) for Ghana after the country applied for bailout from the International Monetary Fund (IMF) are scheduled to begin today, Monday, September 26. The Mission from IMF led by St\u00e9phane Roudet arrived in Ghana over the weekend for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1211645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[26382,3074,3605,3727],"class_list":["post-1211644","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-3news-com","tag-imf","tag-monday","tag-negotiations"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1211644","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=1211644"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1211644\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1211644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1211644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1211644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}