IMF Begins Talks as Ghana Is Set to Seek as Much as $1.5 Billion
- Talks with lender started in the capital, Accra, Wednesday
- Funds will help Ghana access capital markets, minister says
Crowds of customers make their way through a food market in Accra, Ghana.
Photographer: Nipah Denis/BloombergThis article is for subscribers only.
Ghana may seek as much as $1.5 billion from the International Monetary Fund to shore up its finances and win back access to the global capital markets.
The continent’s second-biggest cocoa and gold producer reversed a policy decision not to seek assistance from the multilateral lender as the outlook for world economy worsened. The final loan amount will be decided after initial assessments, Finance Minister Ken Ofori-Atta said in a phone interview, hours before talks began with the IMF in the nation’s capital, Accra.