Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has commenced her inaugural official visit to Ghana to strengthen economic cooperation between Ghana and the global financial institution.
Georgieva’s visit entails a series of high-level meetings with key Ghanaian officials, including President Nana Addo Dankwa Akufo-Addo, Vice President Dr. Mahamudu Bawumia, Finance Minister Dr. Mohammed Amin Adam and Bank of Ghana Governor Dr. Ernest Addison.
Discussions will revolve around the trajectory of Ghana’s three-year US$ 3 billion extended credit facility with the IMF, aimed at fostering economic stability and growth.
Accompanying Georgieva are Mission Chief for Ghana, Stephane Roudet, Director of the Africa Department, Abebe Selassie, and other IMF representatives.
On the agenda for Monday, March 18, 2024, is a conference on Artificial Intelligence (AI) hosted by Kristalina Georgieva in collaboration with the Ministry of Finance.
Themed “AI as a catalyst to transform economies in sub-Saharan Africa,” the conference underscores the importance of leveraging technological innovation for economic advancement in the region.
Ghana’s partnership with the IMF has yielded tangible results, with the country demonstrating strong performance under the extended credit facility.
The recent receipt of the second tranche of US$600 million, totaling US$1.2 billion out of the approved $3 billion, signals progress in stabilizing the local currency and supporting budgetary requirements.
Speaking at a press conference in Washington DC, Abebe Selassie lauded Ghana’s effective implementation of the IMF program, citing successful policy measures to address economic imbalances. He also indicated positive signals from official creditors regarding debt relief, aligning with Ghana’s needs.
Looking ahead, Ghana anticipates its next IMF program review scheduled for June 2024, which is poised to unlock further financial support for the nation’s economic agenda.