Economy already responding positively to IMF news – Ofori-Atta

Finance Minister

The Minister of Finance, Kenneth Nana Yaw Ofori-Atta, has observed that the Ghanaian economy is already responding positively to the news of the staff-level agreement reached between the government and the International Monetary Fund (IMF).

The agreement was announced on Tuesday, December 13 after several months of discussions.

The agreement, subject to approval by IMF’s Management and Executive Board, will see a $3-billion fund ceded to Ghana over a three-year period.

In his remarks at a joint press conference in Accra, Mr Ofori-Atta was upbeat about the outcome of the months of negotiations and said already the economy is responding very well with the news.

“Already, the economy is responding positively to the news of government of Ghana and the IMF reaching an SLA and we are eager to leverage this momentum at the very moment when the IMF Executive Board approves the programme request,” he said.

“We are already seeing significant improvement with the exchange rates with the Ghana Cedi recovering against major currencies.”

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IMF’s Mission Chief for Ghana Stephane Roudet assured that the funds will start hitting Ghana’s chest “very shortly after the programme has been approved by the Board”.

He expressed hope that the Ghanaian authorities will fulfill their commitment as regards assurances to make the programme successful.


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