Ghana to conclude IMF deal in March - Akufo-Addo hopes

Ghana is optimistic about concluding the ongoing negotiations with the International Monetary Fund (IMF) to get the support of the fund by March.

According to local news reports, the issues surrounding the domestic debt exchange programme, one of the requirements, has been “virtually concluded”, paving the way for the country to go the full hog.

President Nana Addo Dankwa Akufo-Addo gave this assurance when he held discussions with the visiting German Federal Minister of Finance, Christian Lindner last Friday at the Jubilee House in Accra.

He said the main concerns of the government include the process of concluding talks with the IMF, as well as the specific assistance that would help Ghana fast-track the process of its economic recovery.

“We are now looking towards going the full hog and concluding the agreement. We're hoping that will be done by the middle of March,” President Akufo-Addo said in a report by graphiconline.

Germany’s Finance Minister was in Ghana for bilateral talks with the government and the business communities and also to assure Ghana of Germany’s support to help Ghana get out of its current economic challenges.

Mr Lindner said the delegation was in the country because although they saw economic challenges in Ghana, they believed they could be turned into opportunities for bilateral trade.

After months of speculation, Ghana, on July 1, 2022, announced that it was going to the IMF to seek support.

Subsequently, the government, in December 2022, reached a staff-level agreement with the fund as part of processes leading to a bailout.

President Akufo-Addo welcomed the pledge by Germany to help the country overcome its current economic challenges and appealed to the German government to lend its support in that direction.