IMF agrees to give Ghana $3 billion debt bailout

By FRANCIS KOKUTSE and SAM MEDNICK
Associated Press

ACCRA, Ghana (AP) — The International Monetary Fund has agreed to give Ghana $3 billion to try to get the West African nation’s debt under control and restore financial stability. The announcement follows IMF officials’ two-week visit to Ghana’s capital Accra, where they discussed support for the country’s policy and reform plans with authorities. Finance Minister Ken Ofori-Atta said Tuesday that Ghana is “committed to the program and will work towards meeting the demands.” He says the agreement will help restore economic stability, tackle inflation and strengthen the currency. Ghana’s reforms are focused on shoring up public finances while protecting the vulnerable. The changes include creating a plan to bring in revenue, increasing tax compliance and making the country’s finances more transparent.