IMF Team Arrives Today To Hold Negotiations On $3 Billion Loan Request | Economy



The Worldwide Financial Fund confirmed on Sunday {that a} employees crew will go to Ghana this week to proceed discussions with the authorities on insurance policies and reforms that might be supported by an IMF lending association.

Ghana turned to the IMF for assist in July as its balance-of-payments deteriorated and a whole bunch took to the streets to protest in opposition to financial hardship. An IMF employees crew briefly visited the nation two weeks later.

Reuters’ reported final week that an IMF crew would go to Ghana this week. The IMF, in an announcement on Sunday, mentioned the crew would arrive on Monday and keep till Oct. 7.

The federal government of Ghana, a serious gold and cocoa producer, has been struggling to tame galloping inflation, cut back public debt and shore up the native foreign money. Its balance-of-payments deficit swelled to almost $2.5 billion by the tip of June from round $935 million in March.

A supply with information of the matter informed Reuters final month that an eventual settlement between Ghana and the IMF will probably encompass $3 billion in financing over a three-year interval, and include parts of each Prolonged Credit score Facility (ECF) and Prolonged Fund Facility (EFF) programmes.

Supply: Reuters



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