June 23, 2024
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Ghana’s economic programme is beginning to bear fruit – IMF boss

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has stated that Ghana’s economic policies under its programme are beginning to yield the desired outcomes.

She emphasised that the policy and reform commitments outlined in Ghana’s deal with the Bretton Woods Institution are in the best interest of the Ghanaian people.

In a post on X (formerly Twitter) on Tuesday, January 16, she expressed the satisfaction of the IMF board with the assurances received from Ghana’s external creditors.

“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 program are starting to bear fruit,” he posted.

She has already welcomed the debt treatment agreement between Ghana and the Official Creditor Committee, stating that it is consistent with the objectives of the IMF-supported programme.

She stressed that the programme aims to restore macroeconomic stability and debt sustainability, build resilience, and lay the foundations for stronger and more inclusive growth.

In a statement, Madam Georgieva expressed gratitude to the Official Creditor Committee, especially the co-chairs, China and France, for their efforts in reaching this 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”.

“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”, she explained.

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