Ghana: IMF Staff Concludes Visit to Ghana

15 June 2023
International Monetary Fund (Washington, DC)
document

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF's Executive Board. This mission will not result in a Board discussion.

Accra: International Monetary Fund (IMF) staff team led by Stéphane Roudet visited Ghana during June 8-15 as part of its regular engagement with the Ghanaian authorities and other stakeholders. The discussions focused on recent economic developments and implementation of the Fund-supported program approved on May 17, 2023.

At the conclusion of the visit, Mr. Roudet issued the following statement:

"During the visit, we discussed recent macroeconomic developments. Against a complex global economic backdrop, the Ghanaian economy is showing signs of stabilization, with softening inflation, an increase in international reserves, and a less volatile exchange rate.

"We also took stock of the authorities' progress in meeting key commitments under the Fund-supported program. These will be formally assessed in the context of the first review of the Extended Credit Facility arrangement, which is expected to be undertaken in the Autumn. In discussing progress on the debt restructuring operations, we reiterated that timely restructuring agreements with creditors are essential to secure the expected benefits of the Fund-supported program.

"IMF staff held meetings with H.E. President Akufo Addo, H.E. Vice President Bawumia, Finance Minister Ofori-Atta, and Bank of Ghana Governor Addison, and their teams, as well as representatives from various government agencies, the Parliament's Finance Committee, the private sector, and civil society. Staff would like to express their gratitude to the Ghanaian authorities and other stakeholders for their constructive engagement and support during this mission."

Key links:

May 17, 2023, Statement: IMF Executive Board Approves US$3 Billion Extended Credit Facility Arrangement for Ghana

Frequently Asked Questions on Ghana: https://IMF.org/Ghana/qandas

IMF Ghana webpage: https://IMF.org/Ghana

IMF Africa Twitter: https://twitter.com/IMFAfrica

Read the original article on IMF.

Tagged:
Copyright © 2023 International Monetary Fund. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.