IMF workforce heads to Ghana on Monday to debate mortgage programme request By Reuters

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© Reuters. FILE PHOTO: The Worldwide Financial Fund emblem is seen at IMF headquarters in Washington, U.S., October 14, 2017. REUTERS/Yuri Gripas/File Photograph

(Reuters) – The Worldwide Financial Fund confirmed on Sunday {that a} employees workforce will go to Ghana this week to proceed discussions with the authorities on insurance policies and reforms that could possibly be supported by an IMF lending association.

Ghana turned to the IMF for assist in July as its balance-of-payments deteriorated and tons of took to the streets to protest in opposition to financial hardship. An IMF employees workforce briefly visited the nation two weeks later.

Reuters’ reported final week that an IMF workforce would go to Ghana this week. The IMF, in an announcement on Sunday, mentioned the workforce would arrive on Monday and keep till Oct. 7.

The federal government of Ghana, a significant gold and cocoa producer, has been struggling to tame galloping inflation, scale back public debt and shore up the native forex. Its balance-of-payments deficit swelled to just about $2.5 billion by the tip of June from round $935 million in March.

A supply with information of the matter informed Reuters final month that an eventual settlement between Ghana and the IMF will probably encompass $3 billion in financing over a three-year interval, and comprise parts of each Prolonged Credit score Facility (ECF) and Prolonged Fund Facility (EFF) programmes.

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