## IMF Staff Concludes Visit to Ghana

_IMF News, June 15, 2023_

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**Canonical URL:** [IMF Staff Concludes Visit to Ghana](https://www.imf.org/en/news/articles/2023/06/15/pr23214-ghana-imf-staff-concludes-visit)

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## Bibliographic details
- Published: June 15, 2023

---

### Mission overview
- Press Release No. 23/214
- Date: June 15, 2023
- IMF staff team led by Stéphane Roudet visited Ghana during June 8-15.
- The visit was part of the IMF’s regular engagement with the Ghanaian authorities and other stakeholders.
- The mission will not result in a Board discussion.
- The views expressed are those of IMF staff and do not necessarily represent the views of the IMF’s Executive Board.

### Key findings from the mission
- The discussions focused on recent economic developments and implementation of the Fund-supported program approved on May 17, 2023.
- The Ghanaian economy is showing signs of stabilization, with:
  - softening inflation,
  - an increase in international reserves,
  - a less volatile exchange rate.
- Progress on key commitments under the Fund-supported program was reviewed; these commitments will be formally assessed in the context of the first review of the Extended Credit Facility arrangement.
- The first review of the Extended Credit Facility arrangement is expected to be undertaken in the Autumn.
- On debt restructuring operations, IMF staff reiterated that timely restructuring agreements with creditors are essential to secure the expected benefits of the Fund-supported program.

### Program and financing
- IMF Executive Board approved a US$3 Billion Extended Credit Facility Arrangement for Ghana on May 17, 2023.

### Engagements and stakeholders met
- IMF staff held meetings with:
  - H.E. President Akufo Addo,
  - H.E. Vice President Bawumia,
  - Finance Minister Ofori-Atta,
  - Bank of Ghana Governor Addison,
  - their teams,
  - representatives from various government agencies,
  - the Parliament’s Finance Committee,
  - the private sector,
  - civil society.
- IMF staff expressed gratitude to the Ghanaian authorities and other stakeholders for their constructive engagement and support during the mission.

### Contact and media
- IMF Communications Department — MEDIA RELATIONS
- PRESS OFFICER:
  - Phone: +1 202 623-7100
  - Email: MEDIA@IMF.org
  - Twitter: @IMFSpokesperson

*Source: IMF Staff Concludes Visit to Ghana (Press Release No. 23/214), June 15, 2023.*

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## References

- [Ghana and the IMF](http://www.imf.org/external/country/GHA/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [Fund-supported program](https://www.imf.org/en/Publications/CR/Issues/2023/05/17/Ghana-Request-for-an-Arrangement-Under-the-Extended-Credit-Facility-Press-Release-Staff-533541)
- [IMF Executive Board Approves US$3 Billion Extended Credit Facility
Arrangement for Ghana](https://www.imf.org/en/News/Articles/2023/05/17/pr23151-ghana-imf-executive-board-approves-extended-credit-facility-arrangement-for-ghana)
- [https://IMF.org/Ghana/qandas](https://imf.org/Ghana/qandas)
- [https://IMF.org/Ghana](https://imf.org/Ghana)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2023/06/15/pr23214-ghana-imf-staff-concludes-visit_