A staff team from the International Monetary Fund (IMF), led by Stéphane Roudet, recently visited Ghana from June 8 to 15 as part of its regular engagement with Ghanaian authorities and other stakeholders. The discussions during the visit focused on the country’s recent economic developments and the implementation of the Fund-supported program approved on May 17, 2023.
Following the conclusion of the visit, Mr. Roudet issued a statement highlighting the key points discussed:
“During the visit, we discussed recent macroeconomic developments. Despite the challenges posed by the global economic landscape, the Ghanaian economy is displaying signs of stabilization, including easing inflation, an increase in international reserves, and a more stable exchange rate.
“We also assessed the authorities’ progress in meeting the key commitments outlined in the Fund-supported program. These achievements will be formally evaluated during the first review of the Extended Credit Facility arrangement, scheduled to take place in the Autumn. In the discussions on debt restructuring operations, we emphasized the importance of timely agreements with creditors to ensure the anticipated benefits of the Fund-supported program.
“IMF staff held meetings with President Akufo Addo, Vice President Bawumia, Finance Minister Ofori-Atta, Bank of Ghana Governor Addison, and their respective teams. We also engaged with representatives from various government agencies, the Parliament’s Finance Committee, the private sector, and civil society. We would like to express our appreciation to the Ghanaian authorities and other stakeholders for their constructive engagement and support throughout this mission.”
The visit by the IMF staff team aimed to assess Ghana’s economic situation and the progress made in implementing the Fund-supported program. The discussions held during the visit will contribute to the upcoming review of the Extended Credit Facility arrangement and the continued cooperation between Ghana and the IMF.
