Ghana’s bailout approval pending external financing assurance – IMF Africa boss

16th April 2023

Abebe Aemro Selassie, the IMF Director of the Africa Department, has stated that Ghana has fulfilled all the prerequisites for its program request to be approved by the executive board except for the assurance of financing from external creditors.

He mentioned that once Ghana secures the financing assurance, the staff will quickly present the program request to the executive board for approval.

“We are now comfortable that all of the measures required for us to present the program to our Executive Board are complete, except for the required financing assurances from Ghana’s external creditors.”

Selassie made this disclosure during the launch of the Regional Outlook Report for Africa in Washington DC, where he urged Ghana’s creditors to hasten the negotiations by providing the necessary financing assurance.

He expressed optimism that this would happen in the next few weeks.

Regarding the government’s commitment to the program, Selassie commended the steps taken by the government in the last several months since the program’s request, saying that they were very encouraging.

He added that the government had implemented several measures that supported the program’s approval by the board. He acknowledged that Ghana’s challenges were significant and required addressing over the course of the program period.

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