Work towards receiving second tranche of IMF fund – Prof Gatsi urges govt
As government remains optimistic to receive the disbursement of the second tranche of the $600 million when the International Monetary Fund Staff (IMF) visits Ghana in September 2023, financial analysts have emphasized the need for government to work to meets its structural benchmarks.
Government is still in the process of completing the domestic debt restructuring.
Following a first debt exchange earlier this year, new debt operations are underway for USD-denominated bonds, Cocoa Bills and bonds held in pension funds.
In a Citi Business News, Economist, Professor John Gatsi maintained that government must remain committed to measures to bring public finances back on a sustainable path.
“That money is very crucial to correct the finances of the country but as to whether we are ready to receive those tranches it is difficult to articulate because I am not sure much effort has been put in place in the cocoa sector to rationalize what the IMF expects the government to do,” he noted.
“I think we have to work assiduously to ensure that we meet the benchmarks because the releases of tranches are predicated on meeting the benchmarks,” he stressed.
A team of experts from the International Monetary Fund (IMF), led by Stéphane Roudet, concluded their first visit to Ghana, which took place from June 8 to June 15, 2023.
The visit aimed to engage with Ghanaian authorities and stakeholders to assess recent economic developments and review the implementation of the Fund-supported program approved on May 17, 2023.
In a statement issued at the end of the visit, Mr. Roudet acknowledged positive signs of stabilization in the Ghanaian economy.
Source: Ghana Business
