The Minister of Finance, Ken Ofori-Atta has revealed that Ghana will seek US $3 billion from the IMF immediately negotiations start.
The minister stated that this $3 billion is a revised version of the $1 billion the country anticipated and this is due to changes in the economic fortunes of the nation.
Speaking with JoyNews, Ofori-Atta revealed that Ghana government hopes to complete work on its Enhanced Domestic Programme by the of September this year.
This will form the basis for negotiation a programme with IMF.
Sharing the minister’s statement;
Programmes usually take about six months to be negotiated, but discussions for Balance of Payment support has already started.
We are thinking of a three-year programme possibly, hoping that IMF programme reforms will be completed in 2 years.
The minister also said that the government plans to tap into the Eurobond Market after Ghana is able to close a deal with the IMF. He believes this will make up the funding shortfalls for the country.
According to Ofori-Atta, closing a deal with IMF will help restore confidence in the economy.
