The Finance Minister, Ken Ofori-Atta has noted that the government is expecting to receive about a total of $6.2 billion from multilateral partners from the present year to 2026.
The International Monetary Fund (IMF) while approving Ghana’s $3 billion bailout request called upon all other partners to join in to support the country’s quest to recover from it’s economic downturn.
Ken Ofori-Atta on Sunday June 8, during his press briefing regarding the economy disclosed that the government is expected to gain about $2 billion from the aforementioned entities by the end of 2023 only, with the World Bank also expected to give $1.6 billion in total.
According to him, the government has also derived an approach called the Post-COVID-19 Programme for Economic Growth (PC-PEG), a programme enumerating a number of reforms needed in reviving Ghana’s economy.
“Our commitment to these reforms is matched by our relentless pursuit of innovation and strengthened partnerships. Backed by the renewed drive for reforms, the government is working towards securing significant support from our multilateral partners.
“Altogether, and including the IMF funds, World Bank and AfDB support, we expect multilateral support of about US$2.0 billion for 2023 and US$6.2 billion between 2023 and 2026. We expect the World Bank to provide a total support of US$1.6 billion whilst the AfDB provides a total support of US$200 million over the programme period,” he said.
Amidst these expected donations and the current IMF programme being rolled out, experts are intensifying calls for home grown solutions to the country’s problems.
They have lamented what looks like an over dependency on external bodies, expressing fears that the country stands to lose state assets if it continues on the trajectory of borrowing from external bodies.
The government, however continues to promise a better economy in the wake of the IMF programme.