Bailout package: We’ll help Ghana restore macroeconomic stability, says IMF

The International Monetary Fund says it will help Ghana restore macroeconomic stability.

Ghana, one of West Africa’s largest economies, sought help from the IMF in July after its citizens took to the streets to protest over spiralling inflation, currency depreciation, and other economic woes.

In a statement on Wednesday, IMF said its team would visit the African nation from December 1 – 13 to continue the conversation on the bailout package.

The statement added that Stéphane Roudet, IMF mission chief for Ghana, would lead the discussion and visit.

The IMF said the staff team would also discuss with Ghanaian authorities on the country’s post-COVID programme for economic growth.

It said the staff team would further engage with other stakeholders during the visit.

“We have had productive discussions with the Ghanaian authorities over the last few months and look forward to our engagement in Accra,” the statement quoted Roudet as saying.

“Our objective for this visit is to make further progress toward reaching an agreement on policies and reforms that could be supported by an IMF lending arrangement.

“The IMF remains fully committed to helping Ghana restore macroeconomic stability, bring relief to Ghanaians in this time of crisis, and lay the foundation for more inclusive growth.”

Meanwhile, the Ghanaian government hopes to conclude the deal for the bailout package by the end of the year.