Prof. Bokpin predicts approval of Ghana’s IMF bailout on Wednesday

An economist, Professor Godfred Bokpin, has stated that Ghana is likely to obtain a Board Level Approval from the International Monetary Fund (IMF) on May 17, 2023. The approval is expected to follow financing assurances provided by the Paris Club and China on May 12, 2023, which are required to secure the IMF Executive Board’s approval. Professor Bokpin stated in an interview with Accra-based TV3 that the statement from the Paris Club and China is a significant breakthrough for Ghana and will satisfy the IMF’s requirements for Ghana’s programme. President Nana Addo Dankwa Akufo-Addo also indicated that Ghana could secure the IMF Board approval in the coming week when addressing members of the Ghana Catholic Bishop Conference at the Jubilee House in Accra on May 12. Ghana is seeking a $3 billion loan facility from the IMF to address balance of payments, restore macroeconomic stability, and other financial challenges.