IMF negotiations will be resolved at the staff level by the end of the year- Finance Ministry

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The Ministry of Finance says the government and the International Monetary Fund (IMF) have reached an agreement on the final details of a program, with a Staff-Level Agreement expected by the end of the year.

This follows meetings in Washington (D.C.) between the government and the IMF to advance negotiations toward a Fund-supported program on the sidelines of the World Bank and the International Monetary Fund’s annual meetings.

According to the Finance Ministry, “a pathway towards fiscal sustainability has also been extensively discussed,” and “the Government of Ghana and the IMF remain fully committed to the goal of reaching a Staff-Level Agreement on a Programme as soon as possible.”

The Ministry also stated that, in accordance with the Staff-Level Agreement, negotiations with the IMF will continue in Accra, as the IMF team is expected in the coming weeks.

The government has also expressed gratitude to the IMF, World Bank, bilateral partners, and external investors for their ongoing support even as the country faces difficult times.

The Ministry of Finance and the Bank of Ghana thank the people of Ghana for their forbearance in what is undoubtedly a troubling and challenging time for our economy and economies globally. The government will continue to work with a fierce sense of urgency, to stabilize the economy and place it back on a firm trajectory of growth.”

The Ministry said it will ”continue to provide regular updates and further details of our economic Programme to the public, immediately they become available. These updates
will be posted on the Ministry’s website, under a section titled IMF Programme Updates.”

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