IMF $3bn deal with Ghana to be finalized before end of 2022 – IMF Boss

The International Monetary Fund (IMF) has assured that the Fund is working to finalize the $3bn deal with Ghana by end of 2022.

In a closed-door meeting with President Akufo-Addo, on Monday, 5th September 2022, the IMF boss, Kristalina Georgieva told President Akufo-Addo “we understand the urgency, and we will move as quickly as possible.”

The IMF Boss reiterated the determination of the Fund to work with Government and the Ministry of Finance to ensure that an agreement is in place before the end of the year.

Meanwhile, Kristalina Georgieva has emphasized that Ghana’s current economic challenges are not locally generated but from external shocks.

On his part, President Akufo-Addo indicated to the IMF boss that a lot of work has been done by Cabinet and the Ministry of Finance, and the document to be presented by the Ghana side “is ready for the scrutiny of the IMF.”

The engagement between President Akufo-Addo and the IMF Boss happened on the sidelines of the Africa Adaptation Summit, in Rotterdam, Netherlands

Ghana is before the IMF for US$3 billion to help the country navigate through its current economic crisis.