‘Broke’ Ghana Runs To IMF For Support

The International Monetary Fund has been formally asked by Ghana to assist with its economic plan.

It comes after President Akufo-Addo and IMF Managing Director Kristalian Georgieva spoke on the phone and discussed Ghana’s plan to apply for the support fund.

The engagement with the IMF will seek to provide a balance of payment support as part of a larger effort to hasten Ghana’s build back in the face of challenges brought on by the Covid-19 pandemic and more recently, the Russia-Ukraine crises, according to a statement released in Accra on Friday, July 1, 2022, and signed by Information Minister Kojo Oppong Nkrumah.

The IMF just awarded Ghana $1 billion for their covid response program. Ghana is an IMF member.