Gov’t Postpones Mid-Year Budget Review

Ghana's Finance Minister, Ken-Ofori-Atta

According to persons acquainted with the proposal, Ghana postponed this week’s mid-year budget review until initial discussions with the International Monetary Fund (IMF) for an economic program are done.

The West African country’s first-half income and spending goals were to be updated by Finance Minister Ken Ofori-Atta on Wednesday.

According to the individuals who declined to be named because they were not allowed to speak to the media, the mid-year budget is most likely to be presented later this month.

When contacted by phone, Cecilia Akwetey, a spokesperson for the Finance Ministry, stated that she was unable to comment right away.

This month, Ghana, the second-largest producer of cocoa and gold in Africa, decided to change its strategy and said it will approach the IMF for up to $1.5 billion in help to strengthen its finances. 

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On July 6, an IMF delegation arrived in Ghana with intent to start discussions with government officials.