The government is expected to formally begin negotiations with the International Monetary Fund (IMF) for an economic programme, as officials of the Fund will arrive in the country this Wednesday, July 6th, 2022, from Washington D.C. in the United States.
The visit by the IMF team which is often described as mission engagement will primarily focus on data gathering from all the relevant institutions in the various sectors of the economy.
The data will help the team to know the true state of the Ghanaian economy as well as get some understanding of government programme in stabilising the economy to achieve what many describe as fiscal consolidation.
Already, a team from the Fund, have been in the country as part of the Article IV consultation to assess the strength of the Ghanaian economy.
The IMF team is expected to put forward a strategy that includes a programme with full commitment from the government and other stakeholders.
After the preliminary engagement, the government is expected to put forward an official document from the Finance Minister, Ken Ofori Atta and the Governor of the Bank of Ghana, Dr Ernest Addison, for government request from the IMF.
The Finance Minister will subsequently lead the government delegation in the negotiation with the Fund.
Sources say the major agenda on the table will be about Ghana’s rising debt stock and the fiscal deficit position.
The IMF team is expected to meet President Akufo-Addo, Vice President Dr Mahamudu Bawumia, officials of the Finance Ministry and the Bank of Ghana as well as some civil society groups before they return to the USA.
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