The second tranche to be secured by the Government is based on some conditions which include the restructuring of an additional GHS 123bn domestic debt in the second round of the debt exchange that Government must satisfy in an assessment of its books by the Fund’s Visiting Staff in September this year.
Speaking to the media at the Ghana Trade Fair Redevelopment Project Investor Conference in Accra, the Finance Chief noted that Ghana is getting back some confidence in the economy after many efforts in meeting the IMF conditionalities.
This he believes will make the way for the next disbursement of $600 million tranche by the Bretton Wood Institution.
“We had an IMF Staff visit about three weeks ago which went very well and we’re expecting that review in September. Between cabinet and parliament, so far we’ve gone through the qualitative performance criteria. So we expect that the review will go well in September to get a Staff-Level Agreement. We’ll go to the Board in November [2023] and we’re sure we can get it”, he posited.
The Finance Chief is optimistic that the country will recover swiftly, adding “God always put the country through and with the help of all, speaking the same language, managing our investors and bondholders well, we will get there”.
Meanwhile, Mr Ofori-Atta has described as a difficult period, getting individual bondholders to suspend their intended picketing at the Finance Ministry.
He, therefore, called for some sacrifice from the private sector in such a period since the country is now getting out of its challenges.
