On Thursday, July 14, Vice-President Dr. Mahmudu Bawumia is anticipated to discuss the nation's choice to request a bailout from the International Monetary Fund (IMF).
At the official launch of an occasion put on by the Accra Business School and South East Technological University in Ireland, Dr. Mahmudu Bawumia will speak as the Guest of Honor.
Beginning on Wednesday, July 6, a group from the International Monetary Fund (IMF) will meet with representatives of the government to discuss Ghana's economic recovery plan.
Following Ghana's announcement that it will seek help from the Fund, the meeting is taking place.
The Ministry of Finance has been given official permission by President Akufo-Addo to officially engage the Fund for Balance of Payment support.The IMF mission would arrive in the nation on Tuesday, according to a statement issued by the Ministry of Finance on Monday.
Kojo Oppong Nkrumah, the Minister of Information, estimates that the Bank of Ghana (BoG) needs around $3 billion to strengthen its buffer.
He claims that $1 billion of the total is currently available.“Already, you recall that the Finance Minister initially indicated that there were arrangements to get about $2 billion, out of which there is $1 billion available. Parliament has to approve for us to receive so that the cedi does not depreciate further.
“We have a shore up of our reserves to be able to meet the liquidity and debt servicing obligations even as our domestic measures will get better. You have the window to start talking to the Fund,” he said in an interview on The Probe on Sunday, July 3.
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