President Akufo-Addo has authorized the Finance Minister, Ken Ofori-Atta to begin talks with the International Monetary Fund(IMF) for bailout following severe challenges the country’s economy is facing.
According to a statement issued by the Ministry of Information, this is to invite the Fund to support an economic programme put together by the government of Ghana.
“This follows a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgievs, conveying Ghana’s decision to engage with the Fund,” the statement explained.
The statement signed by the Minister of Information, Kojo Oppong-Nkrumah added the decision was taken at a meeting held on June 30, 2022.
“The engagement with the IMF will seek to provide balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the COVID-19 pandemic and, recently, the Russia Ukraine crises,” the statement concluded.