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Jul 1, 2022

Ghana Starting Engagement With IMF for Economic Program

Moses Mozart Dzawu and Yinka Ibukun, Bloomberg News

Signage hangs at the International Monetary Fund (IMF) headquarters in Washington, D.C., U.S., on Tuesday, April 14, 2020. In its first World Economic Outlook report since the spread of the coronavirus and subsequent freezing of major economies, the IMF estimated today that global gross domestic product will shrink 3% this year. Photographer: Andrew Harrer/Bloomberg

Signage hangs at the International Monetary Fund (IMF) headquarters in Washington, D.C., U.S., on Tuesday, April 14, 2020. In its first World Economic Outlook report since the spread of the coronavirus and subsequent freezing of major economies, the IMF estimated today that global gross domestic product will shrink 3% this year. Photographer: Andrew Harrer/Bloomberg , Bloomberg

(Bloomberg) -- Ghana announced it will start talks with the International Monetary Fund to support the government’s economic program.

President Nana Akufo-Addo authorized Finance Minister Ken Ofori-Atta to start “formal engagements” after a phone conversation between the president and IMF Managing Director Kristalina Georgieva, the Information Ministry said in a statement on Friday.

Ghanaian bond prices surged after the announcement.

©2022 Bloomberg L.P.

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