The Information Minister, Kojo Oppong Nkrumah, has said the country is expected to receive funding support from the IMF after six months of implementation or even more.
“It will take about six months before Ghana can access the fund,” he revealed.
The government spokesperson said on the Accra-based JoyNews’ ‘The Probe’ show on Sunday, July 3, 2022, which was monitored by Modernghan News. He noted that the previous IMF programme under the Mahama administration lasted seven months before funds were finally released.
“Averagely it will take about six months, I think the last one took about seven months. We think that yes average about six months but we work toward making that legit,” he noted.
Mr. Oppong Nkrumah still attributes the IMF move to the negative impact of covid-19 and the Russia-Ukraine war on Ghana’s economy.
“A lot of people speak and worry about the conditionalities, it is the same reason that we have been saying forever that you should try and do things on your own and not get to a point where you have to go there (the IMF).
“In our situation, we are clear on the things that have compelled us to go there, particularly during the second bout of crisis that has hit us,” he stated.
Meanwhile, an International Monetary Fund (IMF) delegation is expected to arrive in Ghana this week to begin formal discussions with some selected ministers of state.
Watch a section of the interview below:
