Information Minister, Kojo Oppong Nkrumah is optimistic that Ghana’s quest to get a bailout from the International Monetary Fund (IMF) will be granted soon.
Ghana is seeking for a $3 billion loan from the IMF to get its debt under control, restore financial stability and help people most at risk from rising prices and other economic problems.
The country is currently facing more than 40 percent inflation, growing debt and a sharp decline in its cedi currency since the start of the year.
IMF officials have been in the Ghana, where they discussed support for the country’s policy and reform plans with authorities.
And Kojo Oppong Nkrumah believes all indications suggest that the deal will be concluded very soon.
“The Government of Ghana has had an enhanced programme which has been designed to help us recover from major shocks we are suffering. And to make that programme effectual, we will need some balance of payments support from the IMF. And that is what we have been working on, and all indications suggest to us that we should be bringing that to a closure pretty soon”, he said.
The Ofoase-Ayirebi MP however indicated the government has rolled out other programmes to help stabilize the economy since the IMF bailout is not the only remedy to curtail Ghana’s economic challenges.
“But that is not all the panacea to our economic challenges, we have other programmes to help us to bring back growth, help private sector kicking and get cost of living under control,” Kojo Oppong Nkrumah added.
