IMF assures Ghana of quick approval of loan package

IMF assures Ghana of quick approval of loan package

The Managing Director of International Monetary Fund (IMF), Kristalina Georgieva, has firmly assured the Fund that it will move quickly to approve Ghana’s requested loan package as soon as an agreement is reached with its creditors.

Madam Georgieva disclosed this in response to questions from journalists during the launch of the IMF MD’s Global Policy Agenda in Washington DC, USA on the sidelines of the ongoing IMF/ World Bank Spring Meetings.

The MD advised Ghanaians to maintain their optimism regarding the country’s program request because swift action will be taken soon.

According to her, “we are sure that the creditors are going to move swiftly at next week’s meetings and are also going to move swiftly on Ghana’s request”.

The IMF MD disclosure comes as Finance Minister Ken Ofori Atta stated that he anticipates Ghana receiving an IMF programme approval in May 2023 during a virtual meeting with Eurobond investors today, April 13, 2023.

Latest News

He asserts that Ghana has made significant progress toward fulfilling the majority of the prerequisites needed before submitting its request for the IMF Board’s approval of its program.

President Nana Akufo-Addo in a recent address to the nation said that the West African country is in crisis.

He blamed the situation on external shocks – the pandemic and Russia-Ukraine war as inflation rose to a record 50.3 percent, the highest in several years.

Leave a Reply

Your email address will not be published.