IMF Managing Director Kristalina Georgieva says the IMF is prepared to assist Ghana in stabilizing its faltering economy.
In a tweet, she stated that the IMF is prepared to help Ghana create the foundation for faster growth.
The IMF MD spoke with Ken Ofori-Atta, Ghana’s finance minister, who, according to the Daily Guide, is abroad of the country undergoing a medical examination.
“Constructive meeting with Finance Minister Ofori-Atta and his team on Ghana’s economic challenges and the way forward. We are ready to do our part to help the authorities stabilize the economy, lay the ground for stronger growth and help the most vulnerable,” she posted on Twitter.
The Vice President, the Finance Minister, and the Bank of Ghana were among the important parties the IMF met with during its fact-finding visit to Ghana, which was completed in July.
Fitch Ratings recently reduced Ghana’s rating from B- to CCC.
Additionally, in July 2022, the country’s inflation rate reached 31.7 percent.
Within six months, an agreement with the IMF should be in place, according to Fitch.
Additionally, reports claim that the government is asking the Fund for $3 billion to help stabilize the economy.
The COVID-19 pandemic and the Russia-Ukraine war have frequently been cited by Ghana’s administration as the causes of the current predicament.
