President Nana Addo Dankwa Akufo-Addo has expressed optimism on Ghana getting a bailout by the International Monetary Fund (IMF).
He said the country is currently on track to receive a board approval for the bailout from the IMF by the end of March.
Addressing members of the Diplomatic Corps at the Peduase Lodge on Tuesday, the President said with the cooperation received from the Paris Club, he is confident that the IMF deal will finally be concluded by the end of March.
“Just as we managed to achieve a staff-level agreement with the Fund in record time in December last year whose terms were systematically fulfilling including the difficult but ultimately highly successful process of the Domestic Debt Exchange Programme, I am confident that with the cooperation we have received from the members of the Paris Club and the People’s Republic of China, which sent a delegation from China’s EXIM Bank to Accra over the weekend to meet with officials of the Ministry of Finance, we shall be able to go to the Board of the Fund to conclude finally the agreement by the end of March,” he said.
President Akufo-Addo added “this will set the stage for the strong recovery of Ghana’s economy. Needless to say, we will hope that all Ghana’s friends will weigh in with words of support at the Fund.”
Ghana has already reached a staff-level agreement (SLA) with the IMF but has yet to get board approval.
Pulse
