Abebe Aemro Selassie, Director of the Africa department of the IMF

The Director of African Department of International Monetary Fund (IMF), Abebe Aemro Selassie, has said Ghana’s US$3 billion bailout programme with the Fund is being implemented effectively.

He urged the country to continue to implement the bailout programme as envisaged for continues growth.

Abebe Selassie said it is important for Ghana to stick to the course of the IMF programme over the next three years.

Speaking at a media briefing on sub-Saharan Africa last Monday, Abebe Aemro Selassie said, “Ghana’s programme is being implemented effectively. We just went to the board recently with the first programme review following, of course, the policies that the government has been putting in place to address the huge imbalances Ghana was facing through last year.”

“What I can say is that going forward, [it] would be really, really important that Ghana continues to implement the programme that they have developed as envisaged.”

“That is really critical,” he added.

“These programmes are designed to be implemented over three, four years. And it is important that, you stick Ghana’s sticks the course and see the program being implemented over the next three years. So, we look forward to continuing to support Ghana, consistent with program implementation,” Abebe Selassie said.

Ghana is aiming to restructure two-thirds of its external debt that was about US$30 billion at the end of 2022 and has so far received US$1.2 billion from the IMF for the three-year bailout programme.