- IMF deal with Ghana is expected to be extended
- The IMF group to Ghana says government has met most of its targets over the past years
It has emerged that government will definitely be extending the most talked about IMF program.
Checks by YEN.com.gh indicate that the IMF group in Ghana, upon engagements with government in a series of meetings reached a decision to extend the 4 year bailout program.
The IMF program was signed under the erstwhile Mahama administration to help government with some $116 million credit facility mainly to improve the country’s import and export activities.
IMF’s decision follows government’s progress in meeting some of the targets under the bailout regarding the recapitalization of energy sector debts and also helping other struggling banks.
“We have made significant progress in our discussions on the fourth review under the ECF, since our mission in April. These discussions helped us better understand fiscal implications of the new policies,” the IMF country director to Ghana has revealed.
Should the extension be approved in July, this will then be documented as government’s first ever signatory deal with the IMF since it took office in January 2017
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