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On 1 July President Akufo-Addo announced that he has instructed Finance Minister Ken Ofori-Atta to open negotiations for a programme.
“The engagements with the IMF will seek to provide balance of payment as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the Covid-19 pandemic and, recently, the Russia-Ukraine crises,” a government statement said.
Until now, the government had ruled out the option of an IMF programme, settling for a homegrown economic recovery plan that included the introduction of a 1.5% tax on electronic financial transactions (E-levy) which sparked widespread protes.
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