IMF aid to the end of 2018

GHANA’s government has asked the International Monetary Fund (IMF) to push back the end date of its $918 million (R11.9 billion) aid programme from April 2018 to December 2018, the IMF and government sources said yesterday. This may lead to talks aimed at a revised deal to include more money and fresh targets for fiscal consolidation, according to senior government officials. An extension would further reassure investors that the government of President Nana Akufo-Addo that took office in January is serious about restoring macro-economic stability, they said. Ghanaian authorities released a memorandum of economic and financial policies to the IMF this week. It included a letter of intent requesting an extension of the fund programme to December 2018.