IMF boss optimistic bailout programme will stabilise Ghana's economy

Managing Director of the International Monetary Fund (IMF), Christian Lagarde, says a Fund programme will stabilise Ghana's troubled economy.

"Ghana is facing a challenging situation and we are going to continue the [bailout] discussions with the Ghanaian authorities to see what will -- on the fiscal and monetary point of view -- be the best policy mix option for the country", she told Joy Business' George Wiafe in Washington DC.

The IMF  is expected to open formal negotiations in Washington DC  with the Ghana delegation on Tuesday  November 14 to Friday November  17.  

Head of IMF's mission to Ghana, Joel Toujas- Bernate has already met with Ghana's former Finance Minister Professor Kwesi Botchwey who is lead negotiator for the  Ghana team.

The two teams met in Ghana in September to begin preliminary discussion for a possible Fund programme.

Ghana's team also include Finance Minister, Seth Terkper and Governor of the Bank of Ghana , Dr. Kofi  Wampah.

Already news of the country turning to the Fund for a programme has contributed significantly to the cedi's appreciation against major foreign currency over the past weeks.

Ms Lagarde at a news conference said the Ghanaian authorities must also do more to give real  meaning  to any programme that would be proposed for  the country by implementing recommendations.