IMF Boss Happy With Ghana’s Progress

Kristalina Georgieva

 

The International Monetary Fund (IMF) board has expressed its satisfaction with the assurances received from Ghana’s external creditors.

Managing Director of the IMF, Kristalina Georgieva, who revealed this in a post on X (formerly Twitter) said the country’s economic policies under IMF’s programme are beginning to exhibit the expected outcomes adding that the policy and reform commitments outlined in Ghana’s deal with the Bretton Woods Institution were in the best interest of Ghana.

Ms. Georgieva posted, “Wonderful to see President Nana Addo Dankwa Akufo-Addo and Ghana’s Finance Minister, Ken Ofori-Atta at #WEF24. The policy and reform commitments under Ghana’s economic programme are starting to bear fruit.”

Embracing the debt treatment agreement between Ghana and the Official Creditor Committee, she said that was consistent with the objectives of the IMF-supported programme.

According to her, the IMF’s deal with Ghana aimed to reinstate macroeconomic stability and debt sustainability, build resilience, and lay the foundations for stronger and more inclusive growth.

She appreciated the Official Creditor Committee, particularly the co-chairs, China and France, for their efforts in helping to reach such agreement.

“I welcome Minister of Finance Ofori-Atta’s announcement that the Ghanaian authorities have reached an agreement in principle with their official creditors on a debt treatment, consistent with the objectives of the IMF-supported programme, which aims to restore macroeconomic stability and debt sustainability, build resilience, and lay the foundations for stronger and more inclusive growth,” she said.

Additionally, she noted, “I want to thank the Official Creditor Committee, especially the co-chairs, China and France, for all their work to reach this agreement. This is another substantial milestone for the G20 Common Framework under which G20 creditors joined forces to agree on debt relief for Ghana.”

By Samuel Boadi

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