IMF boss promises Ghana bailout to be sealed by year-end
Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has stated that a deal between Ghana and the IMF should be reached and finalized before the end of the year.
In a closed-door meeting with President Nana Addo Dankwa Akufo-Addo on Monday, September 5, on the sidelines of the Africa Adaptation Summit, in Rotterdam, Netherlands, she told him “we understand the urgency, and we will move as quickly as possible”.
Describing Ghana as a “superb country”, she reiterated the determination of the Fund to work with Government and the Ministry of Finance, and ensure that an agreement is in place before the end of the year.
On his part, President Akufo-Addo indicated to the IMF boss that a lot of work has been done by Cabinet and the Ministry of Finance, and the document to be presented by the Ghana side “is ready for the scrutiny of the IMF”.
Meanwhile, Kristalina Georgieva has emphasized that Ghana’s current economic challenges are not locally generated but from external shocks.
Speaking on the sidelines of the Fund’s engagements with the Ghanaian delegation, Kristalina Georgieva stated that contrary to the narrative that Ghana is not in these challenges because of any bad policies of the Akufo-Addo administration, the IMF boss stated that the factors are exogenous.
“We have started very constructive discussions already and to the people of Ghana, like everybody on this planet, you have been hurt by exogenous shocks,” she said.
She mentioned the extraneous factors which have contributed to Ghana’s economic woes, leading to the West African country seeking a programme from the IMF.
