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The Finance Minister says government has made significant progress with its negotiations with the International Monetary Fund (IMF). \u00a0<\/p>\n
Ken Ofori-Atta said the Fund has assured of its strong support to the country in these difficult times.\u00a0<\/p>\n
According to him, a preliminary fiscal adjustment path, and debt strategy have been agreed upon.\u00a0<\/p>\n
Presenting the 2023 budget to Parliament on Thursday, Mr Ofori-Atta said negotiations will be expedited for the benefit of Ghanaians.\u00a0<\/p>\n
\u201cMr Speaker, since Government announced its engagement with the International Monetary Fund (IMF or the Fund) for a supported Programme on July 1, 2022, we have made substantial progress.\u00a0<\/p>\n
\u201cThe Fund assured Government of its strong commitment and support in these difficult times.<\/p>\n
\u201cMr Speaker, Government and the IMF have agreed on programme objectives, a preliminary fiscal adjustment path, debt strategy and financing required for the programme to be in line with the Government\u2019s Post-COVID-19 Programme for Economic Growth (PC-PEG).\u00a0<\/p>\n
\u201cThe PC-PEG is Government\u2019s blueprint to restore macroeconomic stability, promote debt sustainability, sustain economic recovery and support structural reforms,\u201d he said.\u00a0<\/p>\n
The country is in an economic crisis leaving a dire impact on all sectors.<\/p>\n
Ghana is currently at the doors of the Fund seeking support amid intensifying hardship, a rising cost of living and a depreciating cedi.<\/p>\n
However, the Minister has hinted at an end in sight for Ghanaians as progress has been made with the Bretton Woods Institution.\u00a0<\/p>\n
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