Ofori-Atta hopeful to close IMF deal by end of the year

Finance Minister Ken Ofori-Atta is hopeful that the International Monetary Fund (IMF) will approve the programme for Ghana by end of the year.

He told TV3’s Paa Kwesi Asare in an interview on the sidelines of the annual meetings of the IMF and the World Bank in Washington DC that the Fund is motivated to close the deal by end of the year.

“…To get us close to a staff level agreement as possible so that we can incorporate all of our decisions also into the budget so there will will be no reversal and therefore, by year ending, hopefully, the board will approve.

Do you see that happening? he was asked.

In a response, he said “We have to make it happen, the Fund is very motivated, we are 24/7, we will stay a few more days after this annual meeting s and ensure  we make solid  progress going forward.

“I am excited about where we are, which therefore means that if we complete it by end of the year, disbursements from the fund which replaces what would have done going to the international market. Clearly, in my mind there is no need for speculation as to where the currency should be.”

Earlier, Mr Ofori-Atta assured at a press briefing on Wednesday, September 28 the fast-track negotiations with the IMF to ensure key aspects of the programme are reflected in the 2023 budget statement.

“In line with the President’s dialogue with the IMF Managing Director, Kristalina Georgieva, negotiations will be fast-tracked to ensure that key aspects of the programme are reflected in the 2023 Annual Budget Statement in November 2022,” he said.

Source: 3news.com