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Ghana: Finance Ministry – Staff level agreement to be reached as soon as practicable.

According to the Ministry of Finance, the Ghanaian government and the International Monetary Fund (IMF) have agreed on the final elements of a program, with the goal of obtaining a Staff-Level Agreement before the end of the year.

Following consultations in Washington (D.C.) on the sidelines of the World Bank and IMF annual meetings, the Government and the IMF advanced negotiations toward a Fund-supported Program.

In a statement released, the Ministry stated that “a pathway towards fiscal sustainability has also been extensively discussed, and the Government of Ghana and the IMF remain fully committed to the goal of reaching a Staff-Level Agreement on a Program within the shortest possible time.”

Ministry of Finance

Ministry of Finance

In accordance with the Staff-Level Agreement, the Ministry stated that negotiations with the IMF will continue in Accra, since the IMF team is expected within the next two weeks.

Meanwhile, the Ghanaian government has expressed gratitude to the IMF, World Bank, bilateral partners, and external investors for their unwavering support even as the country faces difficult times.

Furthermore, “the Ministry of Finance and the Bank of Ghana thank the people of Ghana for their forbearance in what is undoubtedly a troubling and challenging time for our economy, and economies globally. The government will continue to work with a fierce sense of urgency, to stabilize the economy and place it back on a firm trajectory of growth.”

The Ministry has stated that it will continue to offer the public with regular updates and additional specifics on the country’s economic policy as they become available.

“These updates will be posted on the Ministry’s website, under a section titled IMF Program updates,”.

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