Gov't And IMF Remain Fully Committed To Reaching A Staff-Level Agreement On Programme

 The Government of Ghana has revealed that it remains fully committed to reaching a Staff-Level Agreement with the International Monetary Fund (IMF) on the programme.

The Government made this known after it successfully concluded a trip to Washington D. C to attend the Annual Meetings of the World Bank and International Monetary Fund (IMF).

In a release sighted by Thinknewsonline.com, it said "A Government Delegation has successfully concluded a trip to Washington D.C., to attend the Annual Meetings of the World Bank and International Monetary Fund (IMF or the Fund); and continue negotiations for IMF support for Ghana’s Post-Covid Programme for Economic Growth"

The release also added that several meetings were held between the Government of Ghana and the IMF, advancing negotiations towards a Fund-supported Programme.

During the meeting, it emerged that a clear path towards the final details of the programme has been agreed upon by both parties, with the goal of reaching a Staff-Level Agreement by the end of the year.

"A pathway towards fiscal sustainability has also been extensively discussed, and the Government of Ghana and the IMF remain fully committed to the goal of reaching a Staff-Level Agreement on a Programme, within the shortest possible time"

Thinknewsonline.com has gathered that, with this objective in mind, negotiations will continue, with the IMF Mission Team expected in Accra in the next few weeks.

The Annual Meetings concluded successfully with a renewed sense of urgency for countries to rally together to bolster the global economy, in light of the dim outlook for advanced and frontier markets alike.

The Delegation also had several positive and encouraging engagements with the World Bank, Bilateral Partners, US State Officials, and External Investors.

The Government of Ghana says it is thanking the IMF, the World Bank, Bilateral Partners, and External Investors, for their continued support.

Furthermore, the Ministry of Finance and the Bank of Ghana has also showered praises on the people of Ghana for their forbearance in what is undoubtedly a troubling and challenging time for the country’s economy, and economies globally.

The statement said "Government will continue to work with a fierce sense of urgency, to stabilize the economy and place it back on a firm trajectory of growth"

The Ministry of Finance noted that it undertakes to continue to provide regular updates and further details of Ghana's economic programme to the public, immediately they become available.

These updates will be posted on the Ministry’s website, under a section titled IMF Programme Updates.

Story by: Joshua Kwabena Smith