IMF-World Bank Annual Meetings: Ken Ofori-Atta Hosts Press Briefing With Ghana Delegation

• Finance Minister Ken Ofori-Atta has met with the Ghanaian delegation at the ongoing 2023 Annual Meetings of the IMF and World Bank Group in Marrakech, Morocco
• He briefed journalists from Ghana on issues relating to Ghana's economy during talks with the team
• The minister addressed questions about the remaining $600 million (GH¢7,056,072,000.00+) package that the nation is anticipated to receive in November of this year

Ghana's Finance Minister Kenneth Nana Yaw Ofori-Atta has briefed journalists from Ghana at the ongoing 2023 Annual Meetings of the IMF and World Bank Group in Marrakech, Morocco.

The minister led a government delegation to the engagements hosted by the two international establishments. This follows the staff-level agreement between the International Monetary Fund (IMF) and Ghana on October 6, 2023.

The Fund and Ghana reached a deal after concluding a first review of the bailout package in May 2023.

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The IMF Mission, Chief Stephane Roudet, indicated at a press conference in Accra that the deal is subject to financing assurances and Executive Board approval before Ghana can access the funds.

The second tranche of $600 million

During the recent press briefing, the Finance Minister addressed several questions from the Ghanaian media in Marrakech, including the remaining $600 million (GH¢7,056,072,000.00+) balance the country is expected to receive in November of this year, with plans to engage bilateral creditors on the way forward further.

The minister also answered questions on Ghana's prevailing turbulent economic situation.

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World Bank Slams Ofori-Atta for failing to provide audit report on GALOP Project

Meanwhile, YEN.com.gh reported that the World Bank sent a strongly-worded letter to Finance Minister Ken Ofori-Atta over a 10-month delay in submitting the audit report for a project to improve the quality of basic education in Ghana.

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The Ghana Accountability for Learning Outcomes Agreement (GALOP) is a five-year project to improve the quality of education in low-performing basic schools and strengthen education sector equity and accountability in Ghana.

Ghana received $219 million from the World Bank in 2020 to improve quality education in 10,000 low-performing basic schools.

Education Ministry responds to World Bank’s letter on GALOP Audit Report Delay

Relatedly, YEN.com.gh reported on sighting a response from the Education Ministry that shifted the blame for the report's delay to the Ghana Audit Service.

“Subsequent to the notice from the World Bank, the report was finalised and submitted,” the statement explained.

Many asked on social media why the education ministry responded to a letter from the World Bank addressed to the finance minister.

Source: YEN.com.gh