The International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, has expressed optimism about Ghana's economic situation, urging, Ghanaians to remain positive.
Responding to questions at the ongoing Spring Meetings of the World Bank Group (WBG) and the IMF in Washington DC on Thursday, April 13, 2023, she said the Fund has been pushing bilateral creditors to accelerate creditor talks to help Ghana restore its economy and has been holding crunch meetings to agree on financing assurances for the country pending Executive Board approval.
“To tell you the truth, I am actually quite optimistic. Ghana is going to move; the creditors are going to move; and we (the IMF) are going to move swiftly… so stay tuned and stay positive," she said.
Her assurance comes amid ongoing discussions between Ghana and its creditors over its debt situation. Ghana's debt-to-GDP ratio has increased to over 90%, leading to concerns about its ability to repay its loans.
However, Madam Georgieva said the IMF is committed to supporting Ghana's economic recovery and will work closely with the government and other stakeholders to address the country's debt challenges.
"We know that Ghana has a strong track record of economic growth and has made significant progress in reducing poverty in recent years," Georgieva said. "We believe that with the right policies and support, Ghana can overcome its current challenges and continue on a path of sustainable development."
She also praised the Ghanaian government's efforts to implement economic reforms, saying that they have taken "difficult but necessary steps" to address the country's fiscal imbalances.
She added that the IMF is committed to providing technical assistance and policy advice to help Ghana implement its economic reform programme.
Latest Stories
-
Allow legal processes to take place in Kissi Agyebeng’s impeachment case – Vitus Azeem
24 seconds -
Livestream: Newsfile discusses cedi depreciation and petition to remove Special Prosecutor
11 mins -
John Kumah to be buried today
19 mins -
It is impossible for EC to rig elections in Ghana – Deputy EC chair
32 mins -
Senegal’s Faye to help resolve Mali, Burkina Faso, and Niger’s impasse
58 mins -
Throwing cash in the air – Nigeria’s wedding dilemma
59 mins -
Bagbin donates public address system to Ghana Law School
1 hour -
TGMA should create a category for Acapella music – Alabaster Box group
1 hour -
Man nabbed for allegedly posing as Asantehene’s staff to fraud victims
1 hour -
Zoomlion sends 18 youths on landmark sanitation mission to Belarus and Russia
1 hour -
Ghana will move to renewable energy under my presidency – Bawumia
1 hour -
Telecel Ghana CEO calls for multilateral collaboration and investment in digital public infrastructure
1 hour -
Why forgetting is beneficial
1 hour -
UN climate talks in Bonn must push for greater ambition on climate finance – CSE
1 hour -
Petition to remove Kissi Agyebeng defeats fight against corruption – Legal Practitioner
2 hours