The International Monetary Fund (IMF) is ready to support government to stabilize the economy and to lay the ground for stronger growth.
This is according to the Managing Director of the Fund, Kristalina Georgieva, who has held talks centered around Ghana's economic challenges with Finance Minister, Ken Ofori-Atta.
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The IMF boss posted a photo of their meeting in an August 26 tweet outlining what their 'constructive' discussions had been about.
"Constructive meeting with Finance Minister Ofori-Atta & his team on Ghana’s economic challenges and the way forward. We are ready to do our part to help the authorities stabilize the economy, lay the ground for stronger growth & help the most vulnerable," she captioned the photo.
Ghana approaches the IMF for economic rescue programme
President Akufo-Addo ordered Finance Minister, Ken Ofori-Atta via a July 1 statement to present an economic rescue programme to the IMF.
A team from the Fund led by Carlo Sdralevich visited Ghana between July 6 – 13, meeting with relevant stakeholders.
Reports indicate that government is seeking US$3 billion from the fund to help stabilize the economy. Government has serially blamed the COVID-19 pandemic and the Russia-Ukraine war for the economic headaches.
Constructive meeting w/???????? Finance Minister Ofori-Atta & his team on Ghana’s economic challenges and the way forward.
We are ready to do our part to help the authorities stabilize the economy, lay the ground for stronger growth & help the most vulnerable. pic.twitter.com/ueQ4d3uY8k
Due to his absence from the jurisdiction, Ofori-Atta, according to a Daily GUIDE report was represented by Minister of State at the Finance Ministry, Charles Adu Boahen, at a recent meeting with the Council of State.
“Information reaching DGN Online indicates that the Council of State has summoned the Finance Minister, Ken Ofori-Atta and the Governor of the Bank of Ghana, Dr. Ernest Addison over the free fall of the local currency, the cedi. The Ghanaian Cedi is currently trading at over GH¢10 to one dollar, sending panic among the business community.
“Chairman of the Council of State, Nana Otuo Siriboe, has asked the council members to cut short their recess to attend the emergency council meeting to meet managers of the economy.
"The Finance Minister, Ken Ofori-Atta has travelled out for medical review with Minister of State at the Finance ministry Charles Adu Boahen stepping in for him. The Council meeting is tomorrow, Wednesday, August 24, 2022,” part of the Daily Guide online news report read.
