IMF crew arrives these days - Led by way of Mission Chief
SOURCE: aveaonetv
BY: Maclean KwofiCategory: Business News
Carlo Sdralevich — IMF Mission Chief
Carlo Sdralevich — IMF Mission Chief
A excessive-level delegation from the International Monetary Fund (IMF) will arrive inside the country these days to begin discussions with the government on a way to support the country out of its modern-day economic demanding situations.
Mission Chief, Carlo Sdralevich, will lead the group of senior officers of the fund from its head office in Washington, DC, United States of America (USA).
The crew can even consist of the Country Resident Representative, Dr Albert Touna-Mama.
The delegation will start in-man or woman meetings with the authorities the following day in connection with the united states of america’s quest for an IMF-sponsored programme.
On Ghana’s facet, the President, Nana Addo Dankwa Akufo-Addo, will lead a challenge force of economists, ministers and advisors, at the same time as the Ministry of Finance (MoF) will prepare a crew of economists, finance and social technocrats for the discussions.
The Daily Graphic learnt that the Presidency might announce the crew to lead the discussions and that already sub-teams were working on numerous thematic regions of interest for tomorrow’s discussions.
The IMF team, if you want to be in the u . S . A . For a week, will meet the assignment pressure, the Ministry of Finance, the Bank of Ghana, Civil Society Organisations, academicians amongst others.
Last Sunday, the Minister of Information, Kojo Oppong Nkrumah, said the President would for my part lead a undertaking pressure on the Cabinet stage to start the discussions with the fund.
This is the 18th time the country has approached the IMF for guide, specially to offer balance of charge buffers, technical help to manual an financial turnaround and offer credibility for the global community and investors to begin lending at extra concessionary phrases to the united states of america.
Release
A press release issued via the Public Relations Unit of the Ministry of Finance the day prior to this confirmed the appearance of the IMF group these days for an engagement with the government.
“Subsequent to the directive by means of the President, the Ministry of Finance hereby publicizes the graduation of engagement with the IMF to help Ghana’s monetary programme.
“Pursuant to this, a delegation from the fund is scheduled to reach in Accra on Tuesday to commence in-man or woman conferences with the government of Ghana on Wednesday,” it said.
The launch gave warranty of the authorities’s dedication to correctly negotiate a programme with the IMF in the coming months, in guide of Ghana’s economic restoration.
Context
Last Friday, the united states indicated to the IMF its intention to are trying to find stability of charge (BoP) support.
The IMF Country Office confirmed receipt of the indication and pledged to assist the u . S . A . In its 18th programme with the fund.
In April 2015, Ghana turned to the IMF for a $918-million mortgage to support its ailing foreign money and help stabilise the economic system.
IMF advisors, working with the authorities, evolved a 3-component programme to repair debt sustainability, reinforce financial policy and easy up the banking gadget.
Ghana exited the IMF programme in December 2018.
The fund’s support
The IMF works to reap sustainable boom and prosperity for all of its a hundred ninety-member international locations.
It does so through helping economic guidelines that promote financial balance and monetary cooperation, which are essential to growth productivity, job creation and economic properly-being.
Going into negotiation
In an interview with the Daily Graphic, the Head of Research at the Institute of Fiscal Studies (IFS), Dr Said Boakye, said the government ought to be capable of put together its personal programme, so that the IMF would help.
For his part, the President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng, stated the affiliation expected the authorities to negotiate for a quick-term programme, in order that it can placed its residence in order and design domestic-made answers to boost up the development of the financial system.
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