This was disclosed by the IMF’s Managing Director, Kristalina Georgieva in a tweet after a meeting with the Finance Minister, Ken Ofori-Atta.

The IMF concluded a fact-finding mission to Ghana in July in which it met with key stakeholders like the Vice President, Finance Minister, and the Bank of Ghana.

Ghana was recently downgraded by Fitch Ratings from B- to CCC.

The country’s inflation rate also hit 31.7 percent in the month of July 2022.

Fitch expects a deal with the IMF to be in place within six months.

It also estimates that Ghana could benefit from as much as $3 billion and unlock budget support from other multilateral lenders.