FOLLOWING THE GALLOPING INFLATION NOW EXPERIENCED IN GHANA, INTERNATIONAL MONETARY FUND, IMF HAS INDICATED INTEREST TO OFFER A POSSIBLE LOAN PROGRAMME.
Written by awawa on July 6, 2022
The International Monetary Fund ( IMF) has said it will send a team to Ghana this week to begin talks on a possible loan program for the West African nation.
The nation’s President Nana Akufo-Addo had previously rejected calls to seek financial assistance from the IMF, but last week authorized the step as the country faces soaring inflation.
Carlos Sdralevich, IMF mission Chief in Ghana said on the basis of a request, an IMF staff team will in the coming days kick-start discussions on a possible program to support Ghana’s homegrown economic policies.
Sdralevich will lead the International Monetary Fund staff team visit to Accra July 6-13.
The announcement came after two days of protests in the capital over the rising cost of food and fuel, after the country was hit with inflation of more than 27 percent in May — the highest in almost two decades.