The President of Ghana, Nana Addo Danquah Akuffo, on the 1st of July 2022, through a press release from the Ministry of Information, stated that he had authorized Finance Minister Ken Ofori Attah to begin formal engagements with the International Monetary Fund (IMF) to support an economic program put together by the Government of Ghana.
This follows a telephone conversation between the President and the IMF Managing Director. Miss Kristalina Georgieva, conveys Ghana’s decision to engage with the fund.
At a meeting on June 30th,2022, the cabinet indicated its support of the decision. It was further iterated in the press statement that the engagement with the IMF will seek to provide a balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the COVID-19 pandemic and, recently, the Russia-Ukraine crisis.