We anticipate IMF board approval in May – Finance Minister

Finance Minister Ken Ofori-Atta stated that the government expects the International Monetary Fund (IMF) board to approve the arrangement with the Fund by May of this year.

On Thursday, April 13, he informed investors on the sidelines of the IMF/World Bank Spring Meetings in Washington, D.C., USA, that “we do at this time expect an IMF board approval in May and contemplate a rapid negotiation of a Memorandum of Understanding (MoU) with our creditors.” We have worked hard on all fronts.”

He also informed investors that the administration has taken a number of efforts to address the nation’s fiscal issues.

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He said: “Ghana has done a number of things, first of all with regards to the Paris Club, we did travel to China, we sort support from India and the Saudis and really maintained open relations with the Club. “We did get to the Club to let them know that we were worried about the track record of the common framework, we have had a good relationship, we really commend the Paris Club for the sense of urgency that they have and we are confident that they will be able to bring the assurances to the Bank in the coming week.” He stated

He also stated that the government seeks to strengthen ties with its external creditors.

“We reaffirm our commitment to work with our private and commercial creditors in all of our engagements,” he stressed.

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