Government is set to commence talks with the International Monetary Fund (IMF) for a bailout following severe challenges with Ghana’s ailing economy.
This was announced in a statement issued by the Information Ministry today, Friday, July 1, 2022.
The Information Ministry explained that this decision was taken at a meeting on June 30, 2022.
Ghana’s economy is currently in dire straits with worsening public debt, rising inflation, fuel prices, cedi depreciation among others.
Under the Mahama administration, Ghana turned to the IMF in 2015 for an almost $1 billion extended credit-facility programme.