The government’s spokeswoman for governance and security, Palgrave Boakye-Danquah, asserts that the government is consistently upholding the terms of the staff level agreement it signed with the IMF and that a resolution will be reached by the end of the second quarter.
Due to the effectiveness of the local debt swap system and the backing from other creditors, he was optimistic that Ghana would get the $3 billion IMF bailout to improve the country’s economic situation.
“I am confident that with the cooperation we are receiving from the Paris Club members and the People’s Republic of China, which sent a delegation from China’s Exim Bank to France over the weekend to meet with officials of the Ministry of Finance, we will be able to go to the board of the fund to finally conclude the agreement by the end of the quarter,” Palgrave Boakye-Danquah said.
He asserted that Ghana’s economy would experience a robust recovery as a result of the deal with the Fund.
Palgrave Boakye-Danquah urged the nation’s allies to speak up at the Fund in support of plans to defuse the crisis and restart the economy.
Ghana is currently looking for a $3 billion IMF rescue program to help its flagging economy.
As part of the procedures leading to a bailout, the government and the Fund came to an agreement at the staff level in December 2022.