Information Minister, Kojo Oppong Nkrumah, has announced that Ghana is set to receive a bailout from the International Monetary Fund (IMF).
The minister said Ghana’s package was almost ready for presentation and approval, following successful engagements with the country’s creditors.
According to him, government sources within the IMF have confirmed this.
In an interview with Asempa FM’s Ekosii Sen Thursday, he expressed optimism that Ghana’s economy will soon rebound.
“We have information from the corridors of power in the IMF that all of those final details (debt assurances from Ghana’s creditors) are coming together and that any moment from now Ghana’s package will be sent to the board for a board approval so we can get our balance of payment support that we are looking for from them,” he told host Philip Osei Bonsu.
Ghana has been seeking a financial bailout from the Bretton Woods institution, and the government has renegotiated its domestic debt and is also engaging with foreign partners.
However, critics have accused the government of going to the IMF too late. Despite this, in December, Ghana secured a staff-level agreement with the IMF for a $3 billion loan, with the condition that lenders provide financing assurances for the IMF board to approve the programme.
The Chinese government has also indicated its willingness to assist Ghana in securing the balance of payments bailout from the IMF. The Chinese government has acknowledged its responsibility to ensure that the Ghanaian economy does not collapse.
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