IMF News Has Already Had A Favorable Impact On The Economy: Ofori-Atta

The Ghanaian economy is already responding favorably to the announcement of the staff-level deal made between the government and the International Monetary Fund (IMF), according to Finance Minister Kenneth Nana Yaw Ofori-Atta.

On Tuesday, December 13, the agreement was declared after several months of negotiation.

According to the deal, which must be approved by the IMF’s Management and Executive Board, Ghana will receive $3 billion funds over a three-year period.

Mr. Ofori-Atta expressed optimism about the results of the months of discussions during his remarks at a joint press conference in Accra, saying that the economy has already reacted favorably to the news.

“Already, the economy is responding positively to the news of government of Ghana and the IMF reaching an SLA and we are eager to leverage this momentum at the very moment when the IMF Executive Board approves the program request,” he attested.

He went ahead to iterate that:

“We are already seeing significant improvement with the exchange rates with the Ghana Cedi recovering against major currencies.”

“IMF’s Mission Chief for Ghana Stephane Roudet assured that the funds will start hitting Ghana’s chest “very shortly after the program has been approved by the Board”.

Meanwhile, he expressed the expectation that the Ghanaian government will honor its promise to provide assurances that the initiative would be successful.

Conclusion

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