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IMF Boss: Ghana-IMF $3 billion deal will be completed by the end of the year

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The decision maker of the international money, Kristalina Georgieva, has expressed that a deal between Ghana and the United Nations agency ought to be reached and finalized before the end of the year.

In a closed-door meeting with President Akufo-Addo on Monday, September 5, 2022, on the sidelines of the continental Adaptation Summit, in Rotterdam, European nation, the United Nations agency boss told President Akufo-Addo “we perceive the urgency, and that we can move as quickly as potential.”

Describing Ghana as a “superb country”, she reiterated the determination of the Fund to figure with Government and also the Ministry of Finance, associate degreed make sure that an agreement is in situ before the top of the year.

On his part, President Akufo-Addo indicated to the United Nations agency boss that plenty of labor has been done by the cabinet and also the Ministry of Finance, and that the document to be bestowed by the Ghana facet “is prepared for the scrutiny of the United Nations agency.”

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Meanwhile, Kristalina Georgieva has stressed that Ghana’s current economic challenges aren’t regionally generated however from external shocks. Speaking on the sidelines of the Fund’s engagements with the Ghanese delegation, Kristalina Georgieva expressed that, contrary to the narrative from some opposition components that Ghana is in these challenges owing to the dangerous policies of the Akufo-Addo administration, the United Nations agency boss expressed that the factors area unit exogenous.

“We have started terribly constructive discussions already and with the folks of Ghana, like everyone on this planet, you’ve been hurt by exogenous shocks,” she said. She mentioned the extraneous factors that have contributed to Ghana’s economic woes, resulting in the West land seeking a programme from the United Nations agency.

First the pandemic, then Russia’s war in Ukraine. We want to understand that it’s not due to dangerous policies within the country, but rather to this mix of shocks, and, therefore, we’ve to support Ghana, “she said. She additionally indicated that Ghana could be a member of the United Nations agency, “a robust country with fantastic people”, and that intrinsically, it’s obligatory the Fund to lend the country support.

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Madam Kristalina Georgieva additionally indicated, “We need to support Ghana as a result of your strength contributing to the strength of your neighbours; it contributes to a stronger world.” Ghana is before the United Nations agency for US$3 billion to assist the country navigate through the hostile depression it finds itself in as a results of the adverse effects of the deadly coronavirus pandemic and also the in progress conflict between Russia and Ukraine.

President Akufo-Addo has expressed, every now and then, that “we have determined to seek the collaboration of the International Monetary Fund (IMF) to repair, in the short run, our public finances, which have taken a severe hit in recent times as a result. While we have a tendency to still work on the medium-to semipermanent structural changes that area unit at the guts of our goal of making a Ghana on the far side of Aid, that’s building a resilient, sturdy Ghanaese economy.”

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