Can Ghana secure an IMF deal in three months?

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Can Ghana secure an IMF deal in three months?
Can Ghana secure an IMF deal in three months?

Africa-Press – Ghana. Ghana’s finance minister Ken Ofori-Atta hopes he can get an IMF bailout before the end of the year to support the country’s 2023 budget, but reaching a deal this early will depend on how soon a credible domestic recovery program will be drawn up.

After a series of engagements with the IMF starting with an initial meeting in July, Ghana began form negotiations with the Fund for a bailout on Monday.

According to the finance minister, Ghana cannot afford lengthy negotiations that will go past December. “Negotiations will be fast-tracked to ensure that key aspects of the program are reflected in the 2023 annual budget statement in November 2022,” he said at a press briefing on Wednesday.

In a meeting with President Nana Akufo-Addo in Rotterdam earlier this month, IMF’s Kristalina Georgieva said “we will move as quickly as possible”, but sources close to the negotiations told The Africa Report it could take six months at best for a deal to be agreed on.

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