Ghana To Get Financial Assistance From IMF

Mrs Mona QuarteyGHANA’S Deputy Minister of Finance, Mona Quartey has assured that the country’s economic bailout programme with the International Monetary Fund (IMF) would come with some financial assistance.

According to her, the programme would surely help the government in terms of its balance of payment deficit and it would surely help us in terms of fiscal discipline so that they can get back on track in terms of achieving some of the ratios.

Madam Quartey noted that the IMF team would first start with reviewing the data they requested last week.

Ghana opened talks with officials of the IMF today on how they can help stabilize the economy and Ghana cedi.

The IMF team is led by the mission Chief for Ghana, Joel Toujas-Bernate , while Chairman of the National Development Planning Commission (NDPC), Prof Kwesi Botchwey led the Ghana team.

According sources close to the negotiations, the first phase of discussions with government in Ghana should be concluded by the 26th of September.

Morgan Stanley, a financial services giant says there are indications that government would be looking at a 2 to 3-year program, but IMF wants Ghana to opt for a 3 to 5-year program.

Also, Morgan Stanley maintained that Ghana could secure about 1.5 billion dollar support from the IMF.

Meanwhile, the Ghana’s Finance Ministry would next week begin series of activities aimed at helping the general public appreciate financial issues and products.

Mrs Quartey said the ministry sees this financial literacy week campaign as part of strategies to help Ghanaians also appreciate government’s policies.

 African Eye News






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