The strategy with the International Monetary Fund (IMF) will help the nation escape its crisis by restoring economic stability and combating inflation, according to finance minister Ken Ofori-Atta.
The Minister who is in difficulty stated to reporters that he thinks this will be the last time Ghana needs assistance from the IMF during a news conference on Tuesday, December 13.
“The government is committed to resolving the current economic situation, I can guarantee you of that.
Finance Minister Ken Ofori-Atta expressed his hope that this would be the final time they used the fund.
He claimed that in recent months, the government has accomplished the practically unthinkable in order to assess the economy.
READ ALSO: IMF Agrees To Bailout Ghana 3 Billion Dollars Debt
“We believe the budget for 2023 finds the correct balance.
According to Ken Ofori-Atta, the IMF program “will address inflation and restore economic stability.”
The International Monetary Fund announced that it has struck a staff-level deal with the government of Ghana in a statement early in the morning.
A three-year initiative, the deal is supported by an arrangement under the Extended Credit Facility (ECF) for SDR 2.242 billion, or almost $3 billion.
The government of West Africa wants to return to a stable economy with controllable debt as part of the economic program.
The staff-level agreement will eventually be approved by the IMF Management and Executive Board, as well as Ghana’s partners and creditors providing the required finance guarantees.
