IMF returns to Ghana to meet government officials

An International Monetary Fund (IMF) mission is in currently in Ghana to have discussions with officials of the Government of Ghana, a statement by the Ministry of Finance, has said.

This meeting will be the first since Ghana successfully exited the IMF, the statement said.

“An international monetary fund (IMF) mission is visiting Ghana from Monday 30th September – Friday, 11th October, 2019 to engage in Article IV Consultations as part of the Fund’s mandatory multilateral surveillance for all IMF member countries.

“This will be the first Article consultations since Ghana Successfully concluded the 4-year IMF-supported extended credit facility (ECF) programme in April, 2019. The last Article Consultations was held in 2017,” the statement said.

It added: “…A typical IMF Article IV consultation would, therefore have an IMF team of economist visits a country to assess economic and financial developments and discuss the country’s economic and financial policies with Government and Central officials.

“IMF Staff missions also often meet with some Parliamentarians and representatives of business, labour and civil society. This is currently the stage we are engaged in with the IMF since Monday 30th September 2019.

“After these consultations, the IMF team reports its findings to IMF management and then present them to Executive Board for discussion, which represents all of the IMF’s member countries. A summary of the Board’s view is subsequently transmitted to the country’s Government. In this, the views of the global community and the lessons of international experience are brought to bear on national policies.

“The Government of Ghana looks forward to having fruitful Article IV Consultations with IMF staff in line their mandatory multilateral surveillance conducted for all of its member countries.