Ghana: Akufo-Addo Directs Finance Minister to Engage IMF for Economic Bailout

Akufo-Addo

Accra, Ghana//-Ghana’s President Nana Addo Dankwa Akufo-Addo today directed his Minister of Finance, Ken Ofori-Atta, to begin formal engagements with the International Monetary Fund (IMF), for an economic recovery support.

A statement signed by the Information Minister, Kojo Oppong Nkrumah, and dated July 1st, 2022 indicated that there had already been a conversation between the IMF boss, Kristalina Georgieva and President Akufo-Addo. conveying government’s decision to engage the Fund.

“The President of the Republic, Nana Addo-Dankwa Akufo-Addo, has authorised Finance Minister, Ken Ofori-Atta, to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic programme put together by the Government of Ghana”.

Cabinet at a meeting on June 30th, 2022, supported government’s decision to pursue an economic programme from the Fund.

The engagement with the IMF, the statement, pointed out will seek to provide a 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 Russian-Ukraine crisis.

African Eye Report