The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has extolled Ghana for its strong macroeconomic management prior to the covid outbreak and the Russia-Ukraine war.
Speaking at the ongoing IMF/World Bank Spring Meetings in Washington, she said efforts are underway to ensure that Ghana gets the $3 billion programme with the Fund to enable it to deal with its economic challenges.
Madam Georgieva also indicated that Ghanai is an innocent country that is suffering from the effects of the Covid outbreak and also the war in Ukraine.
She said “We have been in constant contact with authorities in Ghana, we have worked very hard and very swiftly to have the programme, $3bn support programme, for Ghana in place.
“We have been urging Ghana’s creditors to act swiftly. My appreciation also for the proactive role of the Minister of Finance of Ghana in reaching out to the creditors. We are expecting that next week there will be discussions among creditors.”
She added “I can tell you that I use every opportunity myself to urge them to act swiftly. Let us remember that Ghana for a long time has done really well to tap markets to finance its growth paths. It has been like all innocent bystanders hit by Covid, hit by the war in Ukraine. It caused complicated domestically, the ability to Finance the budget. So a country that has a long track record of sound macroeconomic management.”
Finance Minister Ken Ofori-Atta also assured foreign investors that the government had taken a number of steps to ensure the challenges with the nation’s finances are tackled.
He said “Ghana has done a number of things, first of all with regards to the Paris Club, we did travel to China, we sort support from India and the Saudis and really maintained open relations with the Club.
“We did get to the Club to let them know that we were worried about the track record of the common framework, we have had a good relationship, we really commend the Paris Club for the sense of urgency that they have and we are confident that they will be able to bring the assurances to the Bank in the coming week.”
By Laud Nartey|3news.com|Ghana