President Nana Addo Dankwa Akufo-Addo and the IMF boss, Kristalina Georgieva
Managing Director of the IMF, Kristalina Georgieva, has attributed Ghana’s current economic conditions to external shocks emanating from the COVID-19 pandemic and Russia’s invasion of Ukraine.
According to her, these two factors have significantly impacted other economies hence Ghana’s economic challenges cannot be blamed on bad policies implemented by the Ghanaian government.
“Like everybody on
Read full articlethis planet, Ghana has been hurt by exogenous shocks, first the pandemic, then Russia’s war in Ukraine, and we need to realize that Ghana’s challenge is not because of bad policies, but the combination of external shocks,” the IMF boss said in an interview with Accra-based Joy News.
She further touted Ghana as one of the focal countries in the sub-region which needs critical support from the IMF to address the current economic challenges.
“And therefore, we have to support [Ghana] because you’re a member. You’re a strong country, you have fantastic people, but also, we have to support Ghana because your strength contributes to the strength of your neighbours. It contributes to a stronger world,” the IMF boss added.
Touching on Ghana’s possible IMF deal, Kristalina Georgina said she is determined that an agreement with the Government of Ghana can be reached by the end of this year.
She added that constructive discussions have so far been held with Ghanaian authorities for a possible economic support programme.
Ghana is said to be targeting an amount of $3 billion over three years from the Fund once an agreement on a programme is reached. The new amount requested as a loan was double the government’s initial target of $1.5 billion.
President Nana Addo Dankwa Akufo-Addo and the IMF boss, Kristalina Georgieva
