International Monetary Fund (IMF) working in hand with the government of Ghana will seek to provide a balance effort to quicken Ghana’s build back. Government over the period has explained how the Covid-19 pandemic and the on going Russia-Ukraine war has negatively affected the economy.
The International Monetary Fund’s support is a directive given to the Finance Minister, Ken Ofori-Atta by the President Akufo-Addo to approach the IMF. This will begin formal engagements with the International Monetary Fund for an economic support.
In a statement signed by the Minister of Information, Kojo Oppong Nkrumah, and dated July 1st, 2022 stated “The President of the Republic, Nana Addo-Dankwa Akufo-Addo, has authorised Finance Minister, Ken Ofori-Atta, to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic programme put together by the Government of Ghana”.
“This follows a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgievs, conveying Ghana’s decision to engage with the Fund”.
It was for the desire not to return to the IMF program which commenced in 2015 amongst various intervention government introduced the Electronic Transfer Levy (E-levy). This was expected to generate cash for the government but information from government again states the estimated 600million cedis is not attainable.