Ghana Is An Innocent Bystander Hit By The Russia-Ukraine War, Says IMF Boss

The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has repeated her comment that Ghana’s economy has been negatively affected by the Russia-Ukraine war.

She described Ghana as an innocent bystander that has been hit by the Covid pandemic and the war.

Speaking at the ongoing IMF/World Bank Spring Meetings in Washington, she said “we have been in constant contact with authorities in Ghana, we have worked very hard and very swiftly to have the programme, $3bn support programme, for Ghana in place.

“We have been urging Ghana’s creditors to act swiftly. My appreciation also for the proactive role of the Minister of Finance of Ghana in reaching out to the creditors. We are expecting that next week there will be discussions among creditors.”

She further indicated that the Fund has asked Ghana’s creditors to act swiftly to ensure that the deal that the country is seeking with the Fund is approved.

“I can tell you that I use every opportunity myself to urge them to act swiftly. Let us remember that Ghana for a long time has done really well to tap markets to finance its growth paths.

“It has been like all innocent bystanders hit by Covid, hit by the war in Ukraine. it caused complicated domestically, the ability to Finance the budget. So a country that has a long track record of sound macroeconomic management.”

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