President Akufo-Addo with Kristalina-Georgieva

President Akufo-Addo says authorities have reached advanced stages of negotiations with the International Monetary Fund(IMF) on a bailout programme for Ghana.

Addressing the nation on Sunday, President Akufo-Addo said the country is on a steady path to unlock an IMF-supported programme by the end of the year.

“I am able to report to you, my fellow Ghanaians, that the negotiations to secure a strong IMF Programme, which will support the implementation of our Post COVID-19 Programme for Economic Growth and additional funding to support the 2023 Budget and development programme, are at advanced stages, and are going well.

“We are determined to secure these arrangements quickly to bring back confidence and relief to Ghanaians. We are working towards reaching a deal with the IMF by the end of the year. This will give further credence to the measures Government is taking to stabilize and grow the economy, as well as shore up our currency.”

For him, the move with the Washington-based lender is crucial as it will largely help to “repair the short term of public finances and restore our balance of payment whiles we continue to work on the medium to long term structural changes that are at the heart of our goal of constructing a resilient robust Ghanaian economy and building a Ghana Beyond Aid.”

He assured that government is committed to restore the economy to good health following measures being taken to stabilize and grow the economy, as well as shore up the currency.

Source: Ghana/ Fm