We expect IMF Board to consider Ghana's programme for imminent approval after financing assurances are provided– Akufo-Addo

President of Ghana, H. E Nana Addo Dankwa Akufo-Addo

The President of the Republic, H.E Nana Addo Dankwa Akufo-Addo has shared important updates on Ghana’s talks with the International Monetary Fund (IMF) for a support programme.

Speaking at the Workers’ Day celebration on Monday, May 1, the President said government expect the IMF Board to consider Ghana's programme for imminent approval after the financing assurances are provided.

“…ladies and gentlemen, let me touch on a very important subject matter which is the status of the IMF programme negotiations. After achieving a Staff Level Agreement with the IMF in December 2022 in record time, six months after beginning the negotiations in July 2022, we have continued to work tirelessly to complete all prior actions required to present Ghana's Programme to the IMF Executive Board for approval.

“We have also made substantial progress on the debt exchange programme, as well as on our engagements with bilateral creditors to secure financing assurances required for the IMF Programme.

“The IMF and the World Bank have been very supportive in this journey. With the progress made so far, we expect the IMF Board to consider Ghana's programme for imminent approval after the financing assurances are provided,” President Akufo-Addo said.

According to the President, there is an assurance that the next round of meetings of the Paris Club will result in the formation of an Official Creditor Committee, inclusive of China, and the provision of financing assurances.

In his address, President Akufo-Addo expressed appreciation to Organised Labour for the role they have played in this journey, especially their inputs into the preparation of the government's Post COVID-19 Programme for Economic Growth, which underpins the IMF-supported Programme.