Ghana is looking to the International Monetary Fund (IMF) for a possible three-year financing programme worth about $2 billion to $3 billion.
The country is facing a nearly $1 billion balance-of-payments deficit and turned to the IMF earlier this month for a support package. This came after hundreds of people took to the streets to protest worsening economic hardship.
Ghana last sought IMF assistance in 2015, when it received $918 million for a three-year programme. However, Finance Minister Ken Ofori-Atta says because GDP has now gone up, it may enhance the quota.
A staff mission from the Fund visited Ghana from July 6th-13th to hold initial discussions on the support package. However, it has not given a timeline for next steps.
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