IMF Concludes Bail Out Visit to Ghana: Admits Ghana’s Fiscal and Debt Situation Worsened By COVID-19
Between July 6 until July 13, 2022, the delegation headed by Carlo Sdralevich was in Accra to talk about, among other things, Ghana’s Enhanced Domestic Programme that an IMF funding arrangement would support.
The IMF team adds that during the meeting, it spoke with Vice President Bawumia, Finance Minister Ofori-Atta, and Governor of the Bank of Ghana, Dr. Ernest Addison, in a release dated Wednesday, July 13, 2022.
The team also had meetings with the World Bank and UNICEF as well as the Finance Committee of the Parliament and representatives from civil society.
He claimed that Ghana was also being affected by the global economic shock brought on by the conflict in Ukraine at a time when the nation was still recuperating from the Covid-19 pandemic shock and had little room for maneuver.
“We reaffirm our commitment to support Ghana at this difficult time, consistent with the IMF’s policies,” Mr Sdralevich.
“In a last ditch effort, the govt. has begun negotiations w/ the IMF on a bailout deal. SPOILER ALERT: Another IMF loan won’t save GHA’s economy. Like its past 17 IMF programs, a new one will fail,” he tweeted over the weekend.