A package of economic support has been discussed with the IMF by the Ministry of Finance and the Bank of Ghana.
A comprehensive Debt Sustainability Analysis would be necessary to establish that Ghana’s debt is on a sustainable path, according to a statement released by the Ministry (DSA).
“The Ghanaian government is putting together a thorough post-COVID-19 economic blueprint that will serve as the framework for IMF negotiations.
The program aims to create a macro-fiscal path that guarantees debt sustainability and macroeconomic stability and is supported by significant structural reforms and social protection “The announcement gave details.
It added that Government negotiations with respect to the IMF-supported programme will commence this week beginning September 26, 2022.
“We are optimistic about making progress in our discussions and Government remains committed and will continue to actively engage all stakeholders, both public and private, in a clear and transparent manner as we seek to fast-track this process,” the statement concluded.
Meanwhile, Ghana is targeting an amount of US$3 billion over three years from the Fund once an agreement on a programme is reached.
Government hopes to complete negotiations by end of this year in order to receive the funds in the first quarter of 2023.