The Ghanaian economy is already responding favorably to the announcement of the staff-level deal made between the government and the International Monetary Fund, according to Finance Minister Kenneth Nana Yaw Ofori-Atta (IMF).
On Tuesday, December 13, the agreement was declared after several months of negotiation.
According to the deal, which must be approved by the IMF's Management and Executive Board, Ghana will receive a $3 billion money over a three-year period.
Mr. Ofori-Atta expressed optimism about the results of the months of discussions during his remarks at a joint press conference in Accra, saying that the economy has already reacted favorably to the news.
He said that the news that the Ghanaian government and the IMF had reached a SLA had already had a positive impact on the economy. "We are eager to leverage this momentum at the very moment that the IMF Executive Board approves the programme request," he added.
The Ghana cedi is strengthening versus major currencies, and exchange rates have already improved significantly.
Stephane Roudet, the mission chief of the IMF in Ghana, gave the assurance that the money would reach Ghana "quite promptly once the Board has approved the scheme."
He expressed the expectation that the Ghanaian government will honor its promise to provide assurances that the initiative would be successful.
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