Fitch Solutions optimistic for Ghana’s IMF approval in Q1 2023
Fitch Solutions predicts that Ghana is likely to receive International Monetary Fund (IMF) Board approval for its program in the first quarter of 2023.
The approval is seen as crucial for the country to receive a $3 billion Balance of Payment support from the IMF.
According to the company, an IMF deal would improve Ghana’s external and fiscal positions, restore investor sentiment, and ease pressure on the exchange rate.
However, if the approval does not take place, investor confidence is expected to remain weak, leading to a further depreciation of the currency, higher inflation, and a weaker growth rate than projected.
The government is expected to make greater progress on fiscal reforms under an IMF program.
