Ghana approaches IMF: Ghana’s president asks finance minister to begin talks with IMF

2022-07-01 09:21:00 PM

ACCRA, July 1 (Reuters) - Ghana's President Nana Akufo-Addo has authorized the country's finance minister to begin formal talks with the International Monetary Fund (IMF), the government said on Friday.

ACCRA, July 1 (Reuters) - Ghana's President Nana Akufo-Addo has authorized the country's finance minister to begin formal talks with the International Monetary Fund (IMF), the government said on Friday.

ACCRA, July 1 (Reuters) - Ghana's President Nana Akufo-Addo has authorized the country's finance minister to begin formal talks with the International Monetary Fund (IMF), the government said on Friday.

The West African country’s government has until now refused to seek IMF support to redress an economy crippled by rampant inflation, a depreciating currency and debt.The engagement will seek to provide balance of payment support as part of a broader effort to quicken Ghana’s recovery in the face of challenges induced by the pandemic and the Ukraine war, the statement said.

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ɪ'ᴍ ɴᴏ ᴇxᴘᴇʀᴛ ɪɴ ᴛʀᴀᴅɪɴɢ ʙᴜᴛ ɪ ʜᴀᴅ ɢᴏᴏᴅ ɢᴜɪᴅᴀɴᴄᴇ ᴡɪᴛʜ mamats38 ᴀɴᴅ ʜer ᴛᴇᴀᴍ, ɪᴛ'ꜱ ʙᴇʏᴏɴᴅ ᴇʏᴇ ᴏᴘᴇɴɪɴɢ, ᴡɪᴛʜ ᴛʜᴇꜱᴇ ᴛᴇᴀᴄʜɪɴɢꜱ ᴀɴᴅ ᴛʀᴀᴅɪɴɢ ꜱᴋɪʟʟ, I'ᴠᴇ ʜᴀᴅ ɴᴏᴛʜɪɴɢ ʙᴜᴛ ᴄᴏɴᴛɪɴᴜᴇᴅ ꜱᴜᴄᴄᴇꜱꜱ.

UPDATE 5-Crisis-hit Ghana changes its mind and turns to IMF for helpGhana, one of West Africa’s largest economies, will hold formal talks with the International Monetary Fund (IMF) on a support package, the government said on Friday, after hundreds took to the streets protesting mounting hardship. Don't give any money to the president of Ghana Please! Don’t give us any money. We will appreciate advice and directions on how to manage the economy. Our president chatters a flight that costs over $15000 an hour. We had this coming! Pls don't provide any assist to Ghana They are incompetent They'll use the money (unwisely) especially during elections

Ghana: Police Arrest 29 People Protesting High Cost of LivingGhana's opposition led a second day of protests Wednesday over the high cost of living and record inflation. Police fired tear gas at protesters Tuesday and made several arrests.

'KK' confessed he betrayed Nyerere with IMF, World Bank: Thabo MbekiFormer Zambian president Kenneth Kaunda made an undertaking with his Tanzanian counterpart Julius Nyerere that they would never allow a situation that would lead to their respective countries carrying a begging bowl to the IMF or the World Bank. Reality kicked in with 'KK'. It's all nice to sloganeer and issue threats but hunger at night reminded him. Look at Zim, Mugabe was issuing threats regularly and his hungry people were supporting him while running to SA.

'KK' confessed he betrayed Nyerere with IMF, World Bank: Thabo MbekiFormer Zambian president Kenneth Kaunda made an undertaking with his Tanzanian counterpart Julius Nyerere that they would never allow a situation that would lead to their respective countries carrying a begging bowl to the IMF or the World Bank. A bold decision Singenaphi ke thina kwi betrayal zabo KK nabo Nyerere❓ That is exactly what Ramaphosa is doing. Yet not a cent is used for the reason he begged for a loan again.

Healthtech Company Launches Data-driven Insights Platform for Pharmacies in Ghana - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and ReportsmPharma, a healthcare technology company, has launched a new customer-centric product, Facility Insights, on its proprietary data management and pharmacy transformation tool, Bloom. The product will provide Pharmacy owners with tailored data-driven pharmacy insights to solve operational problems and make more informed pharmacy management decisions. Facility Insights is now launched in 300+ pharmacies across Ghana, […]

UPDATE 5-Crisis-hit Ghana changes its mind and turns to IMF for helpGhana, one of West Africa’s largest economies, will hold formal talks with the International Monetary Fund (IMF) on a support package, the government said on Friday, after hundreds took to the streets protesting mounting hardship. Don't give any money to the president of Ghana Please! Don’t give us any money. We will appreciate advice and directions on how to manage the economy. Our president chatters a flight that costs over $15000 an hour. We had this coming! Pls don't provide any assist to Ghana They are incompetent They'll use the money (unwisely) especially during elections

The cabinet indicated its support for the decision at a meeting on June 30, following a phone conversation between Akufo-Addo and the IMF’s Managing Director Kristalina Georgieva.* Ghana had previously refused to seek IMF help * Hundreds protested in the capital over economic woes * IMF says ready to support, will start talks soon * Ghana’s dollar-denominated sovereign bonds rally sharply (Adds response from IMF) ACCRA, July 1 (Reuters) - Ghana, one of West Africa’s largest economies, will hold formal talks with the International Monetary Fund (IMF) on a support package, the government said on Friday, after hundreds took to the streets protesting mounting hardship.Clad in red and black, the hundreds of protesters chanted war songs while wielding signs and placards with inscriptions like,"Mr.Former president sings praises of liberation hero Kenneth Kaunda's contribution to the struggle against apartheid 01 July 2022 - 06:01 Mawande AmaShabalala Political journalist Former president Thabo Mbeki said the admission took place during Kaunda’s address to the now-defunct Frontline States.

The West African country’s government has until now refused to seek IMF support to redress an economy crippled by rampant inflation, a depreciating currency and debt. The engagement will seek to provide balance of payment support as part of a broader effort to quicken Ghana’s recovery in the face of challenges induced by the pandemic and the Ukraine war, the statement said. Ghana, a gold, cocoa and oil producer, has until now refused to seek IMF support to rescue an economy crippled by the pandemic, rampant inflation and a depreciating currency, despite analysts warning it is close to a debt crisis. Hundreds took to the streets in Ghana’s capital Accra this week to protest against spiraling inflation and other woes, as citizens feel the pinch of price hikes amid government efforts to redress the situation. The protesters threw stones and other objects at the police while burning car tires. . The IMF confirmed Ghana’s request for help and said it would start discussions with authorities in the coming weeks.