A delegation from the International Monetary Fund is scheduled to arrive in Accra on Tuesday to begin in-person meetings with Ghanaian government representatives over an economic support plan, Ghana’s finance ministry said on Monday.
Ghana, one of West Africa’s largest economies, had said on Friday it would hold formal talks with the IMF after hundreds of people took to the streets to protest against worsening economic hardship. It had previously refused to seek IMF support.
Ghana, a gold, cocoa and oil producer, has been struggling with the ongoing economic fallout from the COVID-19 pandemic, including rampant inflation and a depreciating currency. Analysts have said it is close to a debt crisis.
He explained that Ghana is a nation of pride and would seek from within solutions to the financial challenges it was facing.
Similarly, an economist and Doctoral Researcher at the University of Cape Town, South Africa, Eugene Bawelle, says the government should have done so in 2020, when the debt sustainability was a bit manageable.
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