{"id":56998,"date":"2023-04-11T19:41:57","date_gmt":"2023-04-11T19:41:57","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/04\/11\/its-going-to-be-difficult-to-get-imf-bailout-by-end-of-april-bokpin\/"},"modified":"2023-04-11T19:41:57","modified_gmt":"2023-04-11T19:41:57","slug":"its-going-to-be-difficult-to-get-imf-bailout-by-end-of-april-bokpin","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/04\/11\/its-going-to-be-difficult-to-get-imf-bailout-by-end-of-april-bokpin\/","title":{"rendered":"It&#8217;s going to be difficult to get IMF bailout by end of April &#8211; Bokpin"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"416\"  alt=\"\" title=\"Akufo-Addoand IMF\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/Akufo-Addoand-IMF-696x416.png\" data- class=\"entry-thumb lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"416\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/Akufo-Addoand-IMF-696x416.png\"   alt=\"\" title=\"Akufo-Addoand IMF\"\/><\/noscript><\/div>\n<p><strong>A Professor at the University of Ghana Business School (UGBS), Godfred Bokpin, says the global geopolitics is affecting \u201cvulnerable\u201d countries like Ghana, making the application for a bailout from the International Monetary Fund (IMF) difficult.<\/strong><\/p>\n<p>Prof Bokpin said the West African nation needs assurances from its bilateral and multilateral partners before the IMF\u2019s Executive Board can be convinced to approve the request for the $3 billion extended credit facility (ECF).<\/p>\n<p>The Minister of Finance, Kenneth Ofori-Atta, is joining the Spring Meetings of the Fund in a last-ditch attempt to secure a bailout for the country\u2019s ailing economy.<\/p>\n<p>Speaking on <strong>TV3<\/strong>\u2018s <em>News 360 <\/em>on Tuesday, April 11, Prof Bokpin conceded that \u201cthis week is a critical week for Ghana\u201d as a result of the Meetings.<\/p>\n<p>He pointed out that by the close of the Meetings, there will be clarity in terms of timelines for Ghana\u2019s application submitted on Friday, July 1, 2022.<\/p>\n<p>But for him, it will be difficult for the country to secure a deal by the end of April.<\/p>\n<p>\u201cIt\u2019s going to be difficult for us to get [the IMF deal] by the end of this month,\u201d he stressed, predicting middle of May as a possible date to get the deal.<\/p>\n<p>Already, a staff level agreement has been reached between Ghana and the Fund but the Executive Board is yet to approve it.<\/p>\n<p>Prof Bokpin adduced that currently the country has lost market access, both on the domestic and international front, and granting a bailout on the part of the Fund will only achieve limited effectiveness.<\/p>\n<p>He said the only sure option left for Ghana is to secure funding assurances from the Paris and non-Paris Club creditors.<\/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>A Professor at the University of Ghana Business School (UGBS), Godfred Bokpin, says the global geopolitics is affecting \u201cvulnerable\u201d countries like Ghana, making the application for a bailout from the International Monetary Fund (IMF) difficult. Prof Bokpin said the West African nation needs assurances from its bilateral and multilateral partners before the IMF\u2019s Executive Board [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":45513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-56998","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>It&#039;s going to be difficult to get IMF bailout by end of April - Bokpin - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/04\/11\/its-going-to-be-difficult-to-get-imf-bailout-by-end-of-april-bokpin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It&#039;s going to be difficult to get IMF bailout by end of April - Bokpin - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"A Professor at the University of Ghana Business School (UGBS), Godfred Bokpin, says the global geopolitics is affecting \u201cvulnerable\u201d countries like Ghana, making the application for a bailout from the International Monetary Fund (IMF) difficult. 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