IMF Bailout in Ghana latest update
The Ghanaian economy is at the verge of collapsing at which the government run to the International Monetary Fund (IMF) for a bailout.
However, the bailout came with certain conditions that the country must fullfil before being granted the bailout. Some of these conditions include, Domestic Debt Restructuring, Embargo on Public Sector Recruitment and External Debt Restructuring.
IMF assured the country of a $3bn loan support in the month of March,2023. After the country is able to restructure its debt rate before the proposed month another condition is being added of which direct the country to introduce some three revenue taxes before the money is given to them.
These taxes will couple with an increase in the cost of production and in turn increase the general cost of living for the Ghanaian populace. Considering all these negative setbacks the said taxes will impose on the poor Ghanaian citizen, such taxes have been passed by parliament in order for the country to secure the IMF bailout.
The March date which should have been the payment date has passed and many more conditions are still coming in. This lead to the question, when at all will the country be given this IMF bailout? Is it possible that the country is going to get the bailout following the trend of IMF?
This have lead many into a state of dilemma as to when the money will be paid for the government to salvage the economy.
