Report by Akpeleasi Flora -21/03/2024
Ghana’s economic strides earn applause from the International Monetary Fund (IMF), with Managing Director Kristalina Georgieva lauding the nation’s achievements. Georgieva highlighted Ghana’s surpassing growth and lower-than-expected inflation rates, alongside swift progress in debt restructuring during her recent visit.
Encouraging Ghana to maintain its momentum, Georgieva emphasized the importance of solidifying current gains. Meeting with President Nana Addo Dankwa Akufo-Addo and other key officials, Georgieva underscored the need for unity in economic management from top leadership downwards.
Georgieva also stressed the significance of inclusive reforms, praising Ghanaian women and civil society organizations for their active engagement. She advocated for robust fiscal policies, effective debt management, and technology-driven economic integration to create more opportunities.
While acknowledging Ghana’s progress, Georgieva cautioned against potential setbacks, urging fair negotiations in future dealings, especially regarding Eurobond creditors.
President Akufo-Addo echoed the sentiment, recognizing the positive impact of seeking IMF support amid challenging economic times. He emphasized the need for sustained growth to benefit the masses and secure electoral mandate, underlining the delicate balance between economic rigour and social welfare.
Akufo-Addo emphasized the importance of avoiding measures that could stoke social unrest, emphasizing the need for a balanced approach to safeguard the interests of Ghana’s populace.
In summary, Ghana’s economic journey garners international praise, with the IMF urging continued dedication to secure lasting prosperity. As Ghana navigates its economic path, maintaining momentum while safeguarding social welfare remains paramount for sustained progress.
