Question 3

The economy of Ghana is undergoing a crisis following COVID-19 and the invasion of Ukraine by Russia. These twin events have significantly affected the world economy and worsened the economic outlook of most nations. Ghana is experiencing dwindling revenue levels amidst rising government expenditure, high debt levels, low reserves, worsening macroeconomic indicators, downgrade of the economy, among others. In order to deal with these challenges, the government of Ghana has signed onto a $3 billion Extended Credit Facility with the International Monetary Fund (IMF). Some have expressed concerns as to the conditions of the IMF programme. As the Finance Director of your company, you have been tasked to present a proposal to the Board of Directors on how your company will navigate the turbulent terrain of the Ghanaian economy in the face of IMF conditionalities. Your proposal must address the following;

1. Highlight the IMF agreement's main conditions that will likely affect your industry and your companys operations.
2. Discuss the four (4) likely impacts of the IMF programme on your firms operations.
3. Discuss three (3) ways your firm can position itself to deal with the economic challenges coupled with the likely burden of the IMF programme on your firms operations.