International Monetary Fund monitors the Nation's economic performance - A delegation of International Monetary Fund officials is in Ghana to carry out an economic assessment of the country's economic performance this year, under the Extended Credit Facility arrangement. This is the fifth visit of the international monetary body to the country this year. The last meeting was held in June. During the June meeting, the IMF had expressed confidence in the performance of the economy, particularly its growth rate, stability in prices and servicing of debts. The last team had commended the administration for the strong fiscal indices which indicated that the country was on a steady road to recovery. This delegation is led by Ms. Christina Daseking. During the visit the IMF team is expected to review economic performance for the last two quarters of the year. Particularly, it will examine the performance on the strength of the credit facility and the outlook of Ghana under the medium term. The team will also call on officials of key economic ministries, notably the Ministry of Finance and Economic planning, the Ministry of National Planning and the Bank of Ghana.

The team will also seek the input of the private sector, especially the Civil Society Organizations. It will essentially ascertain from them their assessment of the economy and an overview of the regime's fiscal regime and discipline.

The latest visit of the global monetary body is connected with the $3bn loan facility which the country seeks from the Chinese Development Bank. The visit is very significant and vital to the approval of the credit, if IMF refuses to accede to the loan Ghana risks losing the opportunity.

The Parliament of Ghana has approved the loan facility agreement covering the $3bn loan will cover gas processing facility, gas transmission pipelines, the building of railways and trunk roads.

Earlier in September during the visit of the Ghanaian Finance Minister Dr. Kwabena Duffuor to New York, the International monetary Fund and the World Bank tacitly approved the loan.

Kate DA Costa

Daily Trust/26/10/2011