IMF Director Says Ghana Has Taken Enough Pain to Unlock Aid
- Government has raised taxes and rescheduled local debt
- Measures should pave the way to the start of formal debt talks
Commercial buildings in the central business district of Accra, Ghana.
Photographer: Ernest Ankomah/BloombergThis article is for subscribers only.
Ghana has taken the tough economic decisions needed to win a rescue package from the International Monetary Fund, once bilateral creditors sign off on assurances, said the institution’s Africa Department Director Abebe Selassie.
The government has increased taxes and imposed losses on domestic investors, as authorities attempt to meet IMF demands for the $3 billion loan. Still, informal talks with bilateral lenders have dragged on.