“Bryan Acheampong anticipates IMF Board approval by June or July”

The Agriculture Minister, Bryan Acheampong, has given a new timeline for when the Ghanaian government is likely to secure a bailout deal with the International Monetary Fund (IMF). Despite the adverse effects of COVID-19 and the ongoing Russian-Ukrainian war on the economy, the Nana Addo Dankwa Akufo-Addo-led government is working to stabilize and revamp the country’s economy. Speaking at a rally in the Eastern Region on April 8, Acheampong assured supporters that a deal with the IMF would be concluded by June or July 2023. The government had hoped to secure a $3 billion facility after a staff-level agreement was reached last year. Although the original timeline was missed, the government is still seeking external debt restructuring agreements to address the country’s economic challenges.