A delegation from the International Monetary Fund (IMF) is in Ghana to meet government for discussion following Ghana’s exit from the programme.
The meeting between the IMF delegation and Ghana is the first of it kind after Ghana successfully exited the IMF programme.
A statement from the Public Relation unit of the Ministry of Finance disclosed the reason for the 12-day visit by the IMF delegation ;
“An international monetary fund (IMF) mission is visiting Ghana from Monday 30th September to 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.
Adding that “A typical IMF Article IV consultation would therefore have an IMF team of economist visit 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 shall report its findings to IMF management and then present them to the 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,” it added.
Meanwhile, the Executive Board of the International Monetary Fund (IMF) has selected Kristalina Georgieva to serve as IMF Managing Director and Chair of the Executive Board for a five-year term. Her appointment commenced on October 1, 2019.