IMF delegation visits Ghana to begin talks on economic bailout

A delegation from the International Monetary Fund (IMF) is scheduled to visit Ghana to begin discussions on a possible support programme.

In a statement on Tuesday, IMF said the visit will run until July 13.

Ghana, one of West Africa’s largest economies, had, on Friday, said that it would hold formal engagements with the IMF after its citizens took to the streets to protest over spiralling inflation and other economic difficulties.

It had previously refused to seek IMF support.

“On the basis of a request from the Ghanaian authorities, an IMF staff team will in the coming days kick-start discussions on a possible program to support Ghana’s homegrown economic policies,” Carlo Sdralevich, the mission chief for Ghana, and the head of the IMF delegation,” said.

“We are at an early stage in the process, given that detailed discussions are yet to take place.

“The IMF stands ready to assist Ghana to restore macroeconomic stability, safeguard debt sustainability and promote inclusive and sustainable growth, and address the impact of the war in Ukraine and the lingering pandemic.

“We are looking forward to our engagement with the authorities in Accra.”

The economy of Ghana has been struggling amidst the Russia-Ukraine conflict.