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IMF talks rekindle investor confidence in Ghana’s economy – GIPC

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The Ghana Investment Promotion Centre (GIPC) has stated that ongoing talks with the International Monetary Fund (IMF) are sparking renewed interest from offshore investors. The director of investor services, Edward Ashong-Lartey, noted in an interview at an Investor Forum Engagement with Ministries, Departments and Agencies (MDAs) that several Japanese investors have already shown interest in Ghana’s economy. Ashong-Lartey believes that this indicates a growing sense of confidence from international investors in the Ghanaian economy, and that positive signs are on the horizon.

The IMF reached a staff-level agreement on a proposed US$3 billion three-year extended credit facility with Ghana in December 2022. The Fund and Ghanaian authorities also agreed on economic policies and reforms to be supported by a new three-year arrangement under the ECF.

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IMF Managing Director Kristalina Georgieva expressed optimism about Ghana’s economic situation during the ongoing Spring Meetings of the World Bank Group and IMF in Washington DC, stating that the Fund has been pushing bilateral creditors to accelerate creditor talks to help Ghana restore its economy.

The MDA Investor Forum, hosted in Accra, brought together all MDAs and agencies whose activities have a bearing on investments in the country. The GIPC is finalizing the unveiling of an investor-grievance mechanism to receive complaints through a portal to help resolve key investment bottlenecks.

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