On Wednesday, July 6th, representatives of the International Monetary Fund (IMF) will land in the nation to start discussions with the government about the bailout the Akufo-Addo administration is requesting.
During their one-week visit, the team is anticipated to meet representatives from the Finance Ministry, the Economic Management Team, and the Presidency.
After the meeting, specifics regarding the bailout program and its conditions will be released.
On Friday, July 1, 2022, the Ministry of Information declared that President Nana Addo Dankwa Akufo-Addo had given the go-ahead for Ghana to start negotiations with the IMF for a bailout.
According to the ministry, the Minister of Finance, Ken Ofori-Atta, will lead the negotiations with the IMF in the coming days.
The news has been met with mixed reactions, as it represents a significant U-turn by the government after it vowed never to participate in an IMF program.
The IMF team will include senior IMF officials as well as local staff based in Ghana.
Analysts estimate that reaching an agreement between the parties will take at least three months.