Dr. John Kwakye, the director of research at the Institute of Economic Affairs (IEA), has applauded Vice President Dr. Mahamudu Bawumia's decision to discuss the government's decision to request assistance from the International Monetary Fund (IMF). Bawumia also serves as the head of the Economic Management Team.
On July 6, he stated, "I understand that the Vice President is going to talk on the matter and explain why we opted to go to the IMF," during the #3businesscolloquium hosted by Media General. Even though I would have like it to arrive sooner, it's not too late.
"I anticipate that he should explain the problem to us and explain why they brought us before the IMF." Dr. Mahamudu will discuss Ghana's decision to approach the International Monetary Fund (IMF) during the official launch of the collaboration between Accra Business School and South East Technological University, Ireland, according to Gabby Otchere-Darko, a prominent member of the New Patriotic Party (NPP).
On Thursday, July 14, the event is anticipated to take place in Accra.
From July 6 to July 13, an IMF staff team led by Carlo Sdralevich, mission leader for Ghana, will be in Accra for preliminary talks with the Ghanaian government on a potential IMF-supported programme.
In response to a request from the Ghanaian government, Mr. Sdralevich stated in a statement that "an IMF staff team will in the coming days begin negotiations on a potential programme to assist Ghana's domestic economic policy. Given that in-depth conversations have not yet occurred, we are still in the early stages of the process.
The IMF is prepared to help Ghana regain macroeconomic stability, protect debt sustainability, foster inclusive and sustainable development, and deal with the effects of the conflict in Ukraine and the ongoing epidemic.
The Fund stated, "We are anticipating our meeting with the authorities in Accra. On Friday, July 1, the Ghanaian government declared that it was requesting assistance from the IMF.
According to a statement from the Ministry of Information, this came after a phone call between the President and Miss Kristalina Georgieva, the IMF Managing Director, in which the President informed her of Ghana's commitment to work with the Fund.