Ghana Finalizing IMF Deal- Kennedy Osei Nyarko Hints

Ghana is optimistic about concluding the ongoing negotiations with the International Monetary Fund (IMF) to get the support according to Member of Parliament (MP)for Akim Swedru in the Eastern Region Hon Kennedy Osei Nyarko.

He gave this assurance when he was part of the IMF discussions in Washington DC in the USA.

Hon Kennedy Osei Nyarko 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.

“Yesterday’s meeting at the IMF was positive. I was excited to hear from the IMF that both Ghana and Zambia are two countries that were doing well in their respective economies until the Covid-19 and Ukraine war. The IMF believes these two countries are a positive examples for developing countries faced with economic challenges in recent times. They have indicated to fast track the board decision approvals for this two countries within the shortest possible time since they are going to use them as a case study for the other countries trying to seek same fiscal and debts restructuring supports. The good thing is that the IMF admitted that Ghana was doing something right until these two crises confronted it. The IMF has indicated that there were about twenty (20) other countries that have also putting in requests for various fund programs. The issue has become a global crisis which the IMF is finding it difficult to contain it because of the issue of private creditors role in the debts restructuring processes,” Hon Kennedy Osei Nyarko disclosed on his Facebook wall after attending the IMF meeting yesterday.

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.