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MPC meeting with BoG postponed over IMF team visit 

The Bank of Ghana’s  Monetary Policy Committee has postponed its routine quarterly meeting today, Monday, September 26, 2022, as scheduled.

The Central Bank issued a statement on Thursday stating; the rescheduled meeting will now coincide with the Government’s next round of engagements with the International Monetary Fund (IMF).

The Fund is scheduled to begin these rounds from September 26 to October 7, on Government’s policies and reforms that could be supported by its lending arrangement.

The team, which will be led by its Mission Chief for Ghana, Stephane Roudet, is also expected to further engage with other stakeholders in the course of the visit.

Following the development, the Monetary Policy Committee says it will announce the next monetary policies on October 7, the day the engagements with the IMF will be concluded.

The last IMF mission to Ghana was between July 6 and July 13, 2022. The team used the opportunity to assess Ghana’s economic situation and discussed the broad lines of the government’s Enhanced Domestic Program that could be supported by an IMF lending arrangement.

The IMF team met with Vice President Bawumia, Finance Minister Ofori-Atta, and the Governor of the Bank of Ghana.

The team also met with the Parliament’s Finance Committee, civil society organizations, and development partners, including UNICEF and the World Bank, to engage in social spending.

Ghana is currently looking to secure a $3 billion loan from the IMF.

Source: CNR

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