Ghana has secured the approval of the executive board for the long anticipated $3billion financial bailout from the International Monetary Fund (IMF).
Sources close to ABC News have confirmed that Ghana has successfully obtained the much-awaited $3 billion financial assistance from the International Monetary Fund (IMF).
This new development was confirmed today, May 17, 2023, during a crucial meeting held in Washington, where the IMF Executive Board unanimously approved Ghana’s comprehensive program for the next three years.
Ahead of this development, the IMF has made an announcement that a virtual press conference has been scheduled for Thursday, May 18.
The press conference aims to shed light on the outcomes of the IMF Executive Board meeting concerning Ghana’s request for an Extended Credit Facility (ECF) Arrangement.
Esteemed participants in the briefing will include Stephane Roudet, the IMF Mission Chief for Ghana, Ken Ofori-Atta, Ghana’s Minister of Finance, Ernest Addison, Governor of the Bank of Ghana, and Tatiana Mossot, Senior Communications Officer at the IMF.
The virtual press conference, to be held via Zoom, intends to offer clarity on the discussions held during the IMF Executive Board meeting and the decisions reached pertaining to Ghana’s appeal for an Extended Credit Facility Arrangement. By engaging with the expert panel, journalists and stakeholders will have the opportunity to gain a deeper understanding of the IMF’s viewpoint on Ghana’s economic circumstances and the proposed assistance.
During the virtual press conference, Ghana’s Minister of Finance, Ken Ofori-Atta, and Governor Ernest Addison are expected to share insights into the economic challenges faced by the country, the ongoing reform efforts, and the potential impact of the Extended Credit Facility Arrangement on Ghana’s financial stability and prospects for economic growth.
Stephane Roudet, the IMF Mission Chief for Ghana, will provide an authoritative analysis of the nation’s economic performance, outlining the conditions and policy measures associated with the Extended Credit Facility Arrangement.