Abstract
Ghana is again seeking assistance from the International Monetary Fund (IMF) to enable the country to meet its payments to the rest of the world and restore the health of government finances. It is the second time in the past three years and 17th since independence in 1957 that Ghana has turned to the IMF for help.
The latest foray reverses the current administration’s earlier stance that it would avoid approaching the multilateral body because of the conditions that come with its assistance. Ghana’s finance minister Ken Ofori-Atta said in May 2022 that government was “confident in its homegrown solutions such as the e-levy in getting the economy to recover … seeking a bailout from the IMF is not an option”.
The latest foray reverses the current administration’s earlier stance that it would avoid approaching the multilateral body because of the conditions that come with its assistance. Ghana’s finance minister Ken Ofori-Atta said in May 2022 that government was “confident in its homegrown solutions such as the e-levy in getting the economy to recover … seeking a bailout from the IMF is not an option”.
| Original language | English |
|---|---|
| Specialist publication | The Conversation |
| Publication status | Published - 17 Jul 2022 |