President Nana Addo Dankwa Akufo-Addo has asked Japan to assist Ghana in reaching an agreement with the International Monetary Fund (IMF) Board for the $3 billion in payment support.
He stated that Japan, as a member of the Paris Club, will play a significant role in Ghana securing the IMF deal.
He made the request during a meeting with Japanese Prime Minister Fumio Kishida.
The Prime Minister paid a visit to Jubilee House on Monday evening.
Mr. Akufo-Addo stated that if the IMF deal is successful, Ghana will repay Japan’s assistance.
“Ghana is also counting on the support of Japan in reaching a favourable agreement with the International Monetary Fund which will pave the way for the robust recovery of Ghana’s economy,” President Akufo-Addo said.
Ghana is expected to receive a $3 billion loan from the IMF in May, according to Finance Minister Ken Ofori-Atta.
Ghana secured a staff-level agreement with the IMF for the $3 billion assistance package in 2022.
Among other things, the assistance would aid in restoring investor trust, building reserve buffers, and improving fiscal and debt sustainability.
However, debt restructuring with Ghana’s external creditors must be agreed upon before the IMF’s Executive Board can approve the ECF.
By: Rainbowradioonline.com/Ghana
