IMF Boss is now the voice of Ghana's economy, according to Prof. Gatsi

The Managing Director of the International Monetary Fund (IMF) appears to be fronting for Ghana to facilitate the country's application for a financial bailout, according to Professor John Gatsi, Dean of the University of Cape Coast Business School.

At the ongoing IMF/World Bank Spring Meetings in Washington on Thursday, April 13, 2023, Kristalina Georgieva praised Ghana and said, "We have worked very hard and very swiftly to have the programme, $3bn support programme, for Ghana in place."

We have been pleading with Ghana's creditors to take quick action, she added.

"I also want to express my gratitude to Ghana's Finance Minister for taking the initiative to contact the creditors. We anticipate that there will be conversations among creditors the following week.

Prior to the Covid-19 outbreak and the Russia-Ukraine crisis in 2022, she also mentioned that Ghana was doing well.

"Remember that Ghana has done incredibly well to tap markets to finance its growth plans for a very long time. It has been similar to how the war in Ukraine has affected all innocent bystanders hit by Covid. Domestically, it complicated people's capacity to finance the budget. Hence, a nation with a lengthy history of good macroeconomic management.

Prof. Gatsi, however, stated that Ghanaians should pay more attention to the chief economist of the World Bank than the managing director of the IMF when addressing on Midday Live on TV3 on Friday, April 14.

"While the IMF chief is speaking in favor of Ghana, the IMF chief economist made the point very clear that Ghana ought to embrace prudent financial responsibility in an engagement earlier," he added.

Kristalina Georgieva, according to him, has taken on the role of "a spokesperson on the economy of Ghana and to front for Ghana [and] may want to see some speedy process and waive some preconditions demanded by international creditors to grant Ghana a program."

According to rumors, Ghana might be granted permission for the $3 billion extended credit facility (ECF) in May.