The International Monetary Fund (IMF) Board’s meeting schedule for the remainder of March 2023 did not include the Government of Ghana.
The repercussions of Ghana not making meaningful headway toward the $3 billion rescue it is requesting from the IMF by the end of March 2023 were foreshadowed by the minister of finance, Ken Ofori-Atta, in a warning issued in February.
He claims that if the government does not present the fund by March with a specific plan, the economic collapse of 2022 might occur once more.
“We need to be mindful that we really need to be successful in going to the fund by this March to avoid what we all experienced last year, which we all don’t want to experience again,”the minister is alleged to have said in response to pensioner bondholders’ objections to their inclusion in a domestic debt exchange program on Monday, February 6, 2023.
In addition, President Nana Addo Dankwa Akufo-Addo said that the government was on track to “present Ghana’s programme request for a $3 billion extended credit facility to the IMF executive board by the end of this month” during the 2023 State of the Nation Address in Parliament on March 8, 2023.
Imf board approval delayed for billion government bailout.
Source IMF Board Approval Delayed for $3 Billion Government Bailout
The Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, released the IMF Executive Board meeting agenda for the upcoming week, which indicated that the board would meet with nine countries before the end of March, with the exception of Ghana.
The timeline, according to the fund, was provisional and subject to change