Lingering issues

Ghana: Staff-level agreement with IMF gives government respite, but what’s next?

By Jonas Nyabor

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Posted on December 13, 2022 15:20

© Ken Ofori-Atta, Ghana’s finance minister, speaks with Stephane Roudet, IMF Mission Chief for Ghana, during a news conference in Accra, Ghana December 13, 2022. REUTERS — Ken Ofori-Atta, Ghana’s finance minister, speaks with Stephane Roudet, IMF Mission Chief for Ghana, during a news conference in Accra, Ghana December 13, 2022. REUTERS

The Akufo-Addo government is heaving a sigh of relief after reaching a staff-level agreement with the IMF for a $3bn credit facility and expects the news to bring back investors’ lost appetite for Ghana.

The IMF in a statement on Tuesday said the parties agreed on a three-year programme under the Extended Credit Facility of about US$3bn after several weeks of discussions and review of Ghana’s domestic economic recovery plan.

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