IMF African Director praises Ghana for effective implementation of IMF programme

Abebe Aemro Selassie, the director of the IMF’s African department, has lauded Ghana’s adept handling of its $3 billion bailout program with the International Monetary Fund (IMF), emphasizing its effective implementation.

Speaking at a recent media briefing on sub-Saharan Africa, Selassie urged Ghana to maintain its commitment to the program for sustained growth.

Highlighting the successful first review of Ghana’s program, Selassie underscored the government’s diligent efforts in addressing significant imbalances encountered in the past year.

He stressed the critical importance of Ghana’s adherence to the IMF program over the next three years, emphasizing that consistent implementation is key to achieving desired outcomes.

Ghana’s ambitious aim to restructure two-thirds of its external debt, amounting to approximately $30 billion as of 2022’s end, has received a notable boost with $1.2 billion disbursed by the IMF for the three-year bailout program.

In reaffirming the necessity of Ghana’s steadfastness, Selassie reiterated that IMF programs are meticulously designed to unfold over a span of three to four years, emphasizing the pivotal role of Ghana’s unwavering dedication in ensuring program success.

Abebe Selassie’s remarks underscore Ghana’s commendable progress in implementing the IMF bailout program while highlighting the imperative for continued commitment to realizing the program’s objectives.

Source:norvanreports