(Adds IMF statement)
By Kwasi Kpodo
ACCRA, Sept 2 Ghana has made progress in talks
with the International Monetary Fund (IMF) and the West African
commodities exporter could receive the next disbursement under
its $918 million aid deal next month, three sources close to the
talks told Reuters on Friday.
The IMF staff evaluation mission, led by Joel
Toujas-Bernate, is leaving the capital Accra broadly satisfied
that Ghana remains on track with agreed fiscal and institutional
reforms aimed at restoring economic stability by the end of the
three-year programme, they said.
However, some fiscal data need to be agreed, one source
said, adding that negotiations would continue.
"The IMF team raised some concerns about Ghana's fiscals and
impressed upon the government to do more to keep the numbers on
track," it said, declining to give details.
"Broadly, there is progress and each side is satisfied. We
believe this clears the way for the (IMF Executive) Board to
conclude the third review successfully," another source told
Ghana, the world's second largest cocoa producer, which also
exports gold and oil, signed an Extended Credit Facility deal
with the IMF in April last year to bring down deficits, public
debt and inflation.
This week's staff assessment mission was called to discuss
updates of macroeconomic projections and firm up the fiscal
outlook for the rest of 2016 after Ghana's parliament passed a
law allowing central bank financing of the deficit, contrary to
The IMF said in a statement that understandings were reached
on many of these issues and that discussions would continue on
"Outstanding questions remain with regards to certain
elements of the legislations recently passed by Parliament and
discussions will continue," it said in a statement signed by
The meeting also discussed Ghana's public debt and debts
owed by state enterprises, "and the Fund is fairly assured that
the government was taking the right steps to resolve them", one
(Reporting by Kwasi Kpodo; Editing by Emma Farge and Dominic