It seems more African economies have started or are in the process of starting talks with the International Monetary Fund (IMF) towards financing their balance of payment deficits and reviving their economies.
Most economies in Africa are saddled with the dire effects of the two most recent global challenges – COVID-19 and the Russia-Ukraine war, besides growing debt levels.
Already, African nations such as Gabon, Côte d’Ivoire, Rwanda, Senegal, Egypt, Mozambique, Kenya, Mali, Ethiopia, and Cameroon are on the negotiating table with the Fund.
The latest country to announce an IMF programme is Tunisia.
On July 2, 2022, Anadolu Agency reports that the Tunisian Prime Minister, Najla Bouden, will be holding negotiations with the International Monetary Fund (IMF) toward a USD 4 billion package to support its 2022 budget.
Najla Bouden notes that “The talks with the IMF will enhance the government’s resolve to implement the needed reforms to overcome the country’s difficult economic and social situation.”
Ghana announced on Friday through the Information Minister, Kojo Oppong Nkrumah that it was seeking International Monetary Fund (IMF) support for its economy, pummeled by the pandemic, the Russia-Ukraine war and rising debt levels.
The Fund has since confirmed, through the Resident Representative Albert Touna-Mama, its readiness to cushion the country. According to unconfirmed reports, a team from the Fund is scheduled to touch down in Ghana on Wednesday, July 6th to begin negotiations with the government.
