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Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has embarked on her inaugural visit to Ghana.
During her visit, Georgieva will engage in a series of meetings with 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. These discussions, alongside representatives from various interest groups, will focus on charting the course forward for Ghana’s three-year, US$3 billion extended credit facility with the IMF.
Accompanying Georgieva are Mission Chief for Ghana, Stephane Roudet, Director of the Africa Department, Abebe Selassie, and other IMF staff.
On Monday, March 18, 2024, Kristalina Georgieva will convene a conference on Artificial Intelligence (AI) in collaboration with the Ministry of Finance. Themed “AI as a catalyst to transform economies in sub-Saharan Africa,” this event aims to explore the potential of AI in driving economic transformation across the region.
In January 2024, the Bank of Ghana confirmed the receipt of US$600 million as the second tranche for budget support and currency stabilization, bringing the total disbursement to US$1.2 billion out of the approved US$3 billion under the three-year extended credit facility initiated in May 2022.
The IMF has commended Ghana’s performance under the program, citing tangible reforms and emerging signs of economic stabilization. According to the IMF, Ghana has met all quantitative performance criteria and nearly all indicative targets and structural benchmarks.
Abebe Selassie, speaking at a press conference in Washington DC, emphasized the effective implementation of Ghana’s program and signaled the support of official creditors in providing debt relief aligned with Ghana’s needs.
Ghana’s next IMF program review is slated for June 2024, with expectations of the third tranche disbursement totaling approximately US$360 million.
Source:Omanghana.com
