{"id":68986,"date":"2024-03-19T06:14:57","date_gmt":"2024-03-19T06:14:57","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=68986"},"modified":"2024-03-19T05:48:24","modified_gmt":"2024-03-19T05:48:24","slug":"govt-wont-deviate-from-the-3bn-programme-with-imf","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/govt-wont-deviate-from-the-3bn-programme-with-imf","title":{"rendered":"Govt won\u2019t deviate from the $3bn programme with IMF"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The government is committed to working closely with the Bank of Ghana (BoG) to stay the cause and not deviate from the IMF programme, Finance Minister Dr Mohammed Amin Adam has assured the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva.<\/b><\/p>\n

\u201cWe will justify the trust and confidence you have in Ghana,\u201d he told the IMF boss who is in Ghana for a working visit.<\/p>\n

Madam Kristalina Georgieva noted in a subsequent interaction with President Akufo-Addo, that it is clear to the IMF that confidence in the Ghanaian economy both domestically and externally is bouncing back.<\/p>\n

She observed that the world economy has surprisingly remained resilient and its growth rate has been stronger than predicted.<\/p>\n

\u201cFor Ghana this year cannot be more decisive because it is the year to bring [back] confidence in Ghana domestically and internationally at the level it was before [the global economic challenges] or higher.<\/p>\n

\u201cIt is possible because we are seeing a world economy that is slightly better, so the economic attributes are better and the critical resource of money will go where confidence in the capacity of the country to perform is highest so Ghana can be at its place as it was before\u201d Kristalina Georgieva said this when she and her delegation called on President Akufo-Addo as part of her two-day visit to Ghana,<\/p>\n

\u201cWe need to stay the cause, your growth is better than expected, your inflation is lower than expected, the progress in debt restructuring has been faster than expected and the task now is to cement what has been achieved\u201d Madam Georgieva added.<\/p>\n

President Nana Addo Dankwa Akufo-Addo for his part touted the success of the deal between Ghana and the International Monetary Fund (IMF) for the $3 billion facility.<\/p>\n

He said his administration will continue to implement sound economic policies and stay the cause with regard to the current IMF programme the country is executing.<\/p>\n

\u201cIt is obvious that the decision we made in July 2022 to come and seek your support for the difficulty economic circumstances which we were involved as far as I am concerned is a decision that has already paid off. It has paid off in terms of the clear turn around that we are seeing in our economy.<\/p>\n

\u201cThe very dire circumstances in which we were at the time we took that difficult decision and where we are today is a very clear testimony of the fact that our decision to seek your support was a decision that was correct, and we have had very positive benefits from it\u201d President Akufo-Addo remarked.<\/p>\n

\u201cThe stronger than predicted growth, the systematic decline in inflation in Ghana and the decline of interest rates, the relatively stable exchange rate which we have had for our currency which was deeply troubled at one stage; These are all important signals that our economy is stabilizing.<\/p>\n

I believe that it is the cooperation that we have had from you and the association that we have had from the World Bank that has brought us to this point. That is a rescue mission and the more important matter for us now is that having laid the foundation, how we can now engineer the rapid growth which is the way in which the mass of our people can benefit from the development of our nation\u201d President Akufo-Addo further remarked.<\/p>\n

Ghana secured a 3 billion United States dollars IMF extended credit facility (ECF) in 2023 after President Akufo-Addo on 1 July 2022, authorized the Minister of Finance then, Ken Ofori-Atta, to commence formal negotiations with the IMF to secure a balance of payment support as part of broader efforts to quicken Ghana\u2019s build back in the face of challenges induced by the COVID-19 pandemic and the geopolitical armed conflict between Russia and Ukraine.<\/p>\n

Ghana\u2019s three-year-IMF programme is in its first year of implementation, with the nation so far, receiving a total of 1.2 billion United States dollars from the IMF in two payment tranches of 600 million dollars each. Ghana has also completed negotiations with her external creditors and there are ongoing discussions with her external private creditors.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The government is committed to working closely with the Bank of Ghana (BoG) to stay the cause and not deviate from the IMF programme, Finance Minister Dr Mohammed Amin Adam has assured the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva. \u201cWe will justify the trust and confidence you have […]<\/p>\n","protected":false},"author":84,"featured_media":68985,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[5092,5096,429],"class_list":["post-68986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nGovt won\u2019t deviate from the $3bn programme with IMF - Ghana<\/title>\n<meta name=\"description\" content=\"The government is committed to working closely with the Bank of Ghana (BoG) to stay the cause and not deviate from th ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/govt-wont-deviate-from-the-3bn-programme-with-imf\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt won\u2019t deviate from the $3bn programme with IMF\" \/>\n<meta property=\"og:description\" content=\"The government is committed to working closely with the Bank of Ghana (BoG) to stay the cause and not deviate from th ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/govt-wont-deviate-from-the-3bn-programme-with-imf\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-19T06:14:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/03\/sm_1710814442.018983.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1728\" \/>\n\t<meta property=\"og:image:height\" content=\"1152\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/govt-wont-deviate-from-the-3bn-programme-with-imf#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/govt-wont-deviate-from-the-3bn-programme-with-imf\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt won\u2019t deviate from the $3bn programme with IMF\",\"datePublished\":\"2024-03-19T06:14:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/govt-wont-deviate-from-the-3bn-programme-with-imf\"},\"wordCount\":702,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/govt-wont-deviate-from-the-3bn-programme-with-imf#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/03\/sm_1710814442.018983.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/govt-wont-deviate-from-the-3bn-programme-with-imf#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/govt-wont-deviate-from-the-3bn-programme-with-imf\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/govt-wont-deviate-from-the-3bn-programme-with-imf\",\"name\":\"Govt won\u2019t deviate from the $3bn programme with IMF - 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