Mid-year budget review postponed amid IMF talks – Bloomberg

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Finance Minister Ken Ofori-Atta will not present the Mid-Year Review of the Budget Statement and Economic Policy of the government and Supplementary Estimates for the 2022 Financial Year to Parliament on Wednesday,

Read full articleJuly 13, 2022, Bloomberg has reported.

According to the international news agency, the presentation has been put on hold as the government engages the International Monetary Fund for a programme.

However, it will most likely be rescheduled for later this month .

“Ghana postponed this week’s mid-term budget review until initial meetings with the International Monetary Fund for an economic program have been completed, according to people familiar with the plan.

“Finance Minister Ken Ofori-Atta was scheduled to give an update on the West African nation’s first-half revenue and expenditure targets on Wednesday. The mid-year budget is likely to be tabled later this month, said the people who declined to be identified because they’re not authorized to speak to the media.

“Finance Ministry spokeswoman Cecilia Akwetey said she wasn’t immediately able to comment when contacted by phone,” Bloomberg reported on its website.

The government on July 1 made a U-turn on its strong position of not seeking support from IMF amid an economic downturn.

A team from the IMF arrived in the country on July 6 and have since been engaging Ghanaian authorities for a programme aimed at restoring macroeconomic stability and safeguarding debt sustainability among many others.

The team is led by Carlo Sdralevich, mission chief for Ghana.

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